Australia Sees Defense Costs Blow Out, Long Delays in Projects
- Government says more than 28 major projects are running late
- Defense spending estimated to rise to 2.2% of GDP over decade
This article is for subscribers only.
Dozens of major Australian military equipment acquisitions are running billions of dollars over budget and years behind schedule, the defense minister said, while warning the nation faces its “most challenging circumstances” since World War II.
Richard Marles, who is also deputy prime minister, said 28 major projects are behind schedule, including Australia’s new Hunter Class frigates and P-8A Poseidon aircraft. There has also been a cost overrun of at least A$6.5 billion ($4.1 billion) in 18 projects, Marles told reporters in Canberra on Monday.