The big squeeze: ASPI defence budget brief 2023-2024 Webinar
The Australian Strategic Policy Institute is delighted to invite you to a public webinar unpacking our latest publication The big squeeze - ASPI defence budget brief 2023-2024.
The big squeeze reveals that the recent federal budget leaves Defence with less core funding for the next three years than was available to it for the same period in the March 2022 budget.
The only increase was compensation for higher costs for imported military equipment due to a fall in the Australian dollar, with Defence’s core funding reduced by $1.5 billion over the next three years.
The tightened conditions underscore the challenge the government faces in growing the defence budget–as it has undertaken to do beyond the forward estimates period–at a time of global economic hazard, with rampant inflation and post-COVID debt putting pressure on budgets worldwide.
As stated in the Defence Strategic Review, deteriorating strategic circumstances will demand a more focussed Australian Defence Force that is able to deter aggression using new and advanced capabilities, as well as by integrating with other elements of Australia’s national power.
These demands will put particular pressure on the government to deliver Defence resourcing increases as soon as possible.
Join us as we discuss the key issues that lie in the defence budget and explore the steps that should be taken now to ensure Defence is prepared for any possible future conflict and to deter war.