Part 3: Capital Measures (continued)
Defence funding profile
|Department of Defence||500.0||300.0||550.0||150.0||‑2,020.0|
The Government is committed to rebuilding Defence and is taking decisive steps to recapitalise it after a number of years of underinvestment and deferred funding for major capability projects.
The Government will bring forward $1.5 billion from 2017‑18 and distribute it over the period 2013‑14 to 2016‑17. Funding of the Approved Major Capital Investment Programme and important capabilities to support networked operations will be accelerated to reduce the risk of capability gaps and reinforce the Government's commitment to strengthen Australia's defence force.
Bringing forward $500 million to 2013‑14 will assist Defence to fund priority foreign military asset purchases, including the Growler electronic attack aircraft, the Romeo Naval anti‑submarine combat helicopter and the upgrade to the Naval Standard Missile‑2 long range anti‑aircraft missile.
The funds brought forward to the period 2014‑15 to 2016‑17 inclusive will address underinvestment in a range of important capabilities.
This measure also includes a movement of funds beyond the forward estimates period to smooth the Defence funding profile and put Defence spending back on an achievable growth path towards the Government's objective of Defence funding of 2 per cent as a share of GDP.
This measure will ensure a realistic Defence funding trajectory, with total Defence funding of $29.2 billion in 2014‑15, $30.3 billion in 2015‑16, $30.4 billion in 2016‑17 and $32.9 billion in 2017‑18.
Defence real estate sales — direction of proceeds towards Defence projects
|Department of Defence||45.5||37.9||45.2||13.5||14.1|
The Government will direct the net proceeds from the sale of Defence real estate to approved Defence projects. Defence will receive additional funding, estimated to be $156.2 million over five years, over and above the costs of preparing the land and buildings for sale.
United States Force Posture Initiative
|Department of Defence||‑||‑||‑||‑||‑|
The Government will provide funding for the up‑front costs of infrastructure development for the United States Force Posture Initiatives at Robertson Barracks and RAAF Base Darwin in the Northern Territory.
The cost of this measure will be met from within the existing resources of the Department of Defence.
The financial arrangements with the United States are still under negotiation. The cost of the infrastructure development is not for publication due to the commercial‑in‑confidence nature of the tender processes involved.