Australian government debt has risen faster than any other major country over the last two decades.
Federal government debt has grown by 221 per cent since 2000 to over 44% of GDP, more than any other G20 nation.
Two major drivers of the debt increase is the continued provision of generous tax loopholes to wealthy LNP supporters and a hugely wasteful defence program.
These big three defence projects are set to push Australia even further into the red:
- Nuclear submarines: $100 billion plus
- Nine hunter-class frigates: $45 billion plus
- Tanks and armoured vehicles: $42 billion plus
None of these make Australia any safer. All are primarily to fight wars somewhere else, not for defending Australia.
- Sophisticated non-nuclear submarines can operate more quietly than nuclear submarines and remain submerged for weeks – and cost under $1 billion each.
- The new B21 bomber would be a far more cost-effective and survivable way of discouraging hostile shipping from attacking Australia than slow, vulnerable and expensive frigates.
- Relatively cheap truck-mounted anti-ship missiles could engage enemy ships far out at sea – a far better plan than ‘fighting them on the beaches’ with lumbering, expensive tanks.
The Australian Democrats have taken the best expert advise on how to cost-effectively defend Australia – see our platform here.
- Implementing Australia’s nuclear submarine program (Andrew Nicholls, Jackson Dowie & Marcus Hellyer, ASPI, Dec 2021)
- Australia drives up debt to Menzian levels with no end in sight (The Age, Dec 2021)
- Why is Australia still investing in a “balanced” defence force? (Hans J. Ohff and Jon Stanford, ASPI, July 2021)
- Is the B-21 bomber a viable option for Australia? (Marcus Hellyer, ASPI)
- HMS Audacious under construction image (Wikipedia)