New Market Study Published: Australia Defence & Security Report Q1 2014
The election of Tony Abbott's coalition in September 2013 should spell a welcome increase in defence spending from the perspective of the struggling local defence industry. Abbott has pledged to increase spending from 1.59% of GDP now to 2% by 2023-24. That could result in the defence budget doubling over the coming decade, though that depends on the strength of Australia's GDP growth rate. But the pledge will be a challenging one to deliver, even if the national economy grows...
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