Budget 2015 starts to restore inter-generational equity regarding future strategic risk

Finally we are starting to pay our fair share of the long-term and sustained defence investment needed over coming decades. Perhaps now more Australians will understand the inter-generational inequity caused when defence investment is wrongly regarded by the current generation of citizens as somehow a discretionary choice rather than, as with investment in all essential national infrastructure, actually our generation's rightful contribution to the long term preparations needed for Australia's very long term strategic security.

 

Letter to The Australian Financial Review
Tuesday, 12 May 2015
(published Thursday, 14 May 2015)

At around 1.93 per cent of GDP, investment in national defence infrastructure is finally beginning to restore inter-generational equity.

For too long middle-class welfare and complacency about future strategic risk has meant us not paying our fair share of the sustained defence investment needed over coming decades.

We have been selfishly inflicting both greater strategic risk and inevitably high catch-up costs on our children and grandchildren.

Even now, though, defence investment still lags well behind national spending on each of debt interest, social security, health and education in both absolute terms and rate of increase.

 

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