Australia will sink billions of dollars more into defence under a future coalition government, as Peter Dutton looks to bolster the country’s armed forces.
Fresh off the third leaders’ debate, the opposition leader pledged to spend $21 billion over the next five years on defence, which would take its share of Australia’s gross domestic product to 2.5 per cent.
The level of defence spending as a percentage of Australia’s economy would then rise further to three per cent within the decade.
While the coalition said it would use the money to reinstate a fourth joint strike fighter squadron, it did not say where else the funding would go.
Mr Dutton said the extra spending on defence was needed in uncertain times globally.
“The prime minister and the deputy prime minister regularly tell Australians that we live in the most precarious period since the end of the Second World War. Yet, over the last three years, Labor has done nothing about it,” he said.
“The coalition will strengthen the Australian Defence Force and support our servicemen and women to keep us safe today and into generations ahead morale.”
The announcement comes after Mr Dutton and Prime Minister Anthony Albanese clashed at the third leaders’ debate in Sydney, with the opposition leader narrowly declared the winner.
As both leaders slung accusations of lying to each other during the hour-long debate, Mr Albanese emphasised a need for stability following uncertainty from US President Donald Trump.
“Peter puts forward this complete nonsense that the whole of the world, including every US ally, has not been able to get an exemption, but he’s going to be able to achieve it,” he said during the debate.
“Complacency and the uncertain world that we inherit … it’s the last time where you’d want to take a risk.”
Mr Dutton also warned of worsening economic conditions should Labor be re-elected, while also not committing to where spending cuts would be made.
“We will look at the budget, we’ll see where the government’s wasting money,” he said.
“(Interest rates are) not looking like they’re coming back any time soon unless they unless they throw us into a recession. So we will look at government expenditure”
It comes as Labor unveiled $78 million will be set aside to fast track training for 6000 tradies to build homes.
The funding will set up an advanced entry trades training program to help those training for work get qualifications they need faster.
Treasurer Jim Chalmers said the scheme would make sure more homes are built across the country.
“We are tackling the housing shortage from every responsible angle to build more homes, more quickly and in all parts of Australia,” Dr Chalmers said.
Mr Albanese will begin Wednesday campaigning in Sydney, while Mr Dutton will be in Perth.
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