$12 Billion Investment in WA Defence Precinct, Emissions Reduction Target, and Climate Change Initiatives

The Albanese Government has announced a $12 billion investment in the Western Australian Defence precinct, bolstering the country's naval shipbuilding and submarine capabilities. The Henderson Defence site in Perth is expected to cost $25 billion over 10 years and will be used to build surface vessels and dry dock submarines for maintenance, including those delivered under the AUKUS agreement. The government is confident in the delivery of submarines, with Minister for Industry, Senator Tim Ayres, stating that there is a "deep" arrangement between Australia and the United States on the submarines, with staff and personnel from the Australian Navy engaged with the US Navy in training and engagements.

Key Takeaways:

• The $12 billion investment in the WA Defence precinct will create 10,000 jobs over the decade in Western Australia, focusing on blue-collar and engineering jobs that contribute to Australia's defence and national security.
• The AUKUS agreement does not guarantee the delivery of submarines, but Minister Ayres is confident that the arrangement will be delivered upon in full, with significant investment and personnel already engaged in the program.
• The government is planning to increase defence spending to 2.33% of GDP by 2033, with the current defence spending at 2.8% of GDP based on the calculation method used by NATO.
• The White House has expressed the desire for Australia to significantly increase its defence spending, and the government is committed to increasing spending in the national interest.
• The government is preparing to announce its emissions reduction target for 2035, with Minister Ayres stating that there are broad-ranging conversations with industry about how to deliver upon each sector's emissions reduction targets while building Australian industrial capability.
• The government is focused on delivering capability that actually matters, with Minister Ayres criticizing the previous government for issuing press releases without delivering on capability.

Statistics:

• $12 billion investment in the WA Defence precinct
• $25 billion cost over 10 years for the Henderson Defence site in Perth
• 10,000 jobs created over the decade in Western Australia
• 2.33% defence spending target as a percentage of GDP by 2033
• 2.8% current defence spending as a percentage of GDP based on the calculation method used by NATO
• $70 billion additional defence spending over the next 10 years

Sources:

• Interviewer Sally Sara, on Canberra's Department of Industry, Science, Energy and Resources news release
• Minister for Industry, Senator Tim Ayres, quoted in the interview
• Australian Government, Albanese Government
• White House, for expressing the desire for Australia to significantly increase its defence spending
• NATO, for using the calculation method to determine defence spending as a percentage of GDP