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6d ago

Coalition Pledges $21 Billion Defence Boost, Targets 3% of GDP Spending

Peter Dutton unveils plan to raise defence spending to 2.5% of GDP by 2030, with aspirations for 3% within a decade, positioning it as a response to growing global threats.

Liberal Party leader Peter Dutton listens during a visit to youth mental health foundation, Headspace, in Parramatta, Western Sydney, Australia, March 23, 2025. REUTERS/Hollie Adams/File Photo
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CANBERRA, AUSTRALIA – NewsWire Photos - February 3, 2025: Andrew Hastie, Shadow Defence Minister during the last post ceremony at the Australian War Memorial in Canberra. NewsWire / Martin Ollman
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Overview

  • The Coalition has announced a $21 billion increase in defence spending over the next five years, aiming to lift spending to 2.5% of GDP by 2030 and aspiring to reach 3% within ten years.
  • The plan includes reinstating a fourth squadron of F-35A fighter jets, adding 28 aircraft to the Australian Air Force fleet, and bolstering Australia's defence industrial base.
  • Peter Dutton framed the proposal as necessary during a time of heightened global instability, criticizing Labor for alleged defence funding cuts and lack of urgency.
  • Labor has dismissed the Coalition's pledge as lacking funding clarity, defending its own trajectory of raising defence spending to 2.3%–2.4% of GDP by 2034 through budgeted plans.
  • The announcement has drawn attention amid calls from US figures, including Elbridge Colby, for allies like Australia to increase defence spending to counter regional and global threats.