The Turnbull Government’s first priority is the safety and security of Australia and its people. The 2018–19 Budget will provide national and economic security, while generating thousands of Australian jobs. The Budget provides funding to continue to deliver: · on our ongoing commitments to Defence Operations around the globe, ensuring safety and security at home and secure maritime borders · the capability plans set out in the 2016 Defence White Paper through the Defence Integrated Investment Program · the strategies outlined in the Defence Industry Policy Statement to reshape and refocus the Defence and industry partnership and create more jobs. The comprehensive, responsible long term plans for Australia’s defence set out in the 2016 Defence White Paper, and reinforced in the 2017 Foreign Policy White Paper, continue to ensure that we develop the capability needed to protect Australia and to secure our interests in the coming decades, despite growing global uncertainty and complexity. Therefore, the 2018–19 Budget maintains the Government‘s commitment to provide Defence (inclusive of the Australian Signals Directorate (ASD)) with a stable and sustainable funding growth path, with the Defence budget growing to two per cent of GDP by 2020–21. The Government will provide Defence (inclusive of ASD) with $36.4 billion in 2018–19 and $160.7 billion over the Forward Estimates.
The government is sticking to its plan lift Defence funding, with the 2018-19 budget taking the headline figure to $36.4 billion, up from $34.7 billion in 2017-18. Defence Minister Marise Payne said this budget maintained the Government’s commitment to provide Defence with a stable and sustainable funding growth path. This takes Defence spending to 1.91 per cent of gross domestic product (GDP), with 1.92 per cent expected for 2019-20.
The first Defence Industry and Innovation Programs Update Report, covering the Defence Innovation Hub, Next Generation Technologies Fund and Centre for Defence Industry Capability (CDIC), shows that these initiatives are successfully advancing Defence’s capability and growing Australian industry. The Defence Innovation Hub received over 390 innovation proposals and awarded more than $53.5 million in contracts aligned to Defence’s strategic priorities for innovation investment.
Treasurer Scott Morrison yesterday delivered the federal budget 2018, which promises to help businesses through lower taxes, investments in science and technology and infrastructure developments. (VLS). The Government continues its plan to reduce tax burden for firms with more than $50m turnover per annum. As part of its ten Year Enterprise Tax Plan started in 2016-17, the government has legislated tax cuts for around 3.3 million small and medium Australian businesses employing 6.8 million workers with annual turnover up to $50 million.
The government is investing in the global positioning system (GPS) technology that will create jobs and support Australian industry. Minister for Resources and Northern Australia, Matt Canavan, said the government is investing over $260 million to develop the satellite technology. “We rely on satellite and GPS technology for just about every aspect of our lives – from Google Maps on our individual phones, through to air traffic control at the busiest airports,” Minister Canavan said.
Defence’s LAND 129 Phase 3 project office has called for industry information in the form of a survey to inform its pre-Gate 1 Shadow 200 UAS replacement program. “Defence wants to learn more about Australian business capability to inform its Army Program Land 129 Phase 3,” the survey reads. “The survey is intended to provide an opportunity for Australian industry to engage with Defence at an early stage and to indicate what capability is in the TUAS space in support of the upcoming Gate 1 and Gate 2 business case submissions.
Critical design work on the Future Submarine Program will move to South Australia from 2022. Currently, initial design work is taking place in Adelaide and Cherbourg, France. The announcement coincides with the visit to Australia by the French President, Emmanuel Macron, and follows the signing of several agreements strengthening defence industry and research ties.