Australia unveils $45.2 billion defense budget with ramp up in AUKUS spending - Breaking Defense

Concept art of a SSN AUKUS (BAE Systems)

SINGAPORE — Australia’s government today released its budget for fiscal 2026-2027, putting aside a total of $62.6 billion Australian dollars ($45.2 billion USD) for defense.

This represents an increase of 6 percent from last year’s defense budget, and comprises 2.02 percent of its Gross Domestic Product. The Aussie government plans to increase its defense spending to 3 percent of its total GDP by 2033.

Included in the defense budget is a boost to staffing and funding to go toward the Australian Submarine Agency (ASA), which is in charge of Australia’s effort to develop and acquire a nuclear submarine capability under the AUKUS pact. The agency will have a budget of 512.5 million AUD over the coming year, a 33 percent increase from its current budget, according to the Portfolio Budget Statement.

Further, ASA is expected to increase its staffing levels for FY27 to an expected 1,209 from its current 833.