The Australian defence budget for 2021-22 will be $44.6 billion, according to the Commonwealth Portfolio Budget Statement.
The Budget builds on the unique 10 year funding model announced by Prime Minister Scott Morrison in 2020.
Minister for Defence Peter Dutton said this provides Defence and Australian defence industry with the continued planning certainty required to support ongoing critical Defence capability and create Australian jobs.
“In 2020, the Australian Government delivered on its commitment to grow the Defence budget to two per cent of GDP. The 10-year funding model in the 2020 Defence Strategic Update and 2020 Force Structure Plan builds on this by providing Defence with a total funding of $575 billion over the decade to 2029-30. This includes $270 billion investment in the capability and potency of our Defence force,” Minister Dutton said.
“The 2021-22 Budget continues to see sustained strong investment in Australia’s national security, building Defence capability and creating jobs, boosting Australia’s cyber resilience and supporting Australia’s sovereign defence industry.”
The DST Group budget for 2021-22 is $537.9 million, remaining roughly steady in successive years at $537.8, $533.7, and $562.7 million.
“Australia is facing unprecedented levels of threat both at home and abroad, so it is now more important than ever that we build what we need at home to defend the nation,” said Minister for Defence Industry Melissa Price.
In March, the Prime Minister, Minister Dutton and Minister Price announced the acceleration of a $1 billion Sovereign Guided Weapons Enterprise, to boost skilled jobs and help secure Australia’s sovereign defence capabilities. Developing a sovereign guided weapons capability will enhance Australia’s self-reliance and build global supply chain resilience.
The Government will also fund the implementation of a government-wide Cyber Hubs pilot as part of the first step towards centralising the management and operations of secure Cyber Hubs across the Australian Government.
For the Defence Portfolio Budget Statement 2021-22: https://www.defence.gov.au/budget/