Coalition pledges increase in defence spending to 3% GDP if elected

The Coalition has pledged to increase defence spending to 3 per cent of GDP, if elected. Labor has criticised the lack of detail in the plan.

Opposition Leader Peter Dutton (L) and Defence spokesman Andrew Hastie. Source: AAP / MICK TSIKAS/AAPIMAGE

Key Points

• The Coalition is promising to increase the spending to 2.5 per cent of GDP within five years, which it says will cost $21 billion, before reaching the 3 per cent target in a decade's time.
• That would equate to more than $134 billion annually.
• Defence spending is currently 2 per cent of GDP, with Labor planning to grow it to 2.2 per cent within five years, and 2.35 per cent in just under a decade.

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Coalition pledges increase in defence spending to 3% GDP if elected

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