Should Australia increase its defence spending? We asked 5 experts
- Written by Justin Bergman, International Affairs Editor
Both Labor and the Coalition are considering an increase to defence spending ahead of the federal election.
Defence spending is currently at about 2% of gross domestic product[1] (GDP), or around A$56 billion per year. The Coalition is reportedly eyeing an increase to 2.5%[2] of GDP by 2029.
The Albanese government’s current spending plan is expected to reach 2.33%[3] of GDP by 2034. And in this week’s budget, it is expected to bring forward[4] some of its already announced $50 billion increase in defence spending.
Why do these percentages matter? US President Donald Trump has made it very clear he expects America’s allies to pay more on defence, at least 3% of GDP[5].
We asked five experts if defence spending should be increased, and if so, by how much. They agreed more money is needed, albeit with caveats.
References
- ^ 2% of gross domestic product (www.afr.com)
- ^ eyeing an increase to 2.5% (www.afr.com)
- ^ expected to reach 2.33% (www.smh.com.au)
- ^ bring forward (www.afr.com)
- ^ at least 3% of GDP (www.afr.com)
Authors: Justin Bergman, International Affairs Editor
Read more https://theconversation.com/should-australia-increase-its-defence-spending-we-asked-5-experts-252374
