Australia politics live: Peter Dutton promises ‘significant funding commitment’ to defence during election campaign

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‘Significant funding commitment’ to defence during election campaign: Peter Dutton

There’s only a brief mention of defence in Dutton’s speech, despite reports the party is considering increasing defence spending to 2.5% of GDP.

But we might get more soon, and Dutton gives us a forward sizzle, saying there’ll be a “significant funding commitment to defence” during the election campaign.

Earlier this month the Coalition pledged $3bn for fighter jets, but there’s no new spending announced tonight.

Tonight, Dutton just backs the Aukus agreement, saying his government would “spend taxpayers’ money wisely”.

Aukus too has the potential to foster a new arm of our economy and transform our civil industrial base.

We will spend taxpayers’ money wisely – in a manner which has an economic multiplying effect, generates productivity, and can attract new investment.

My intention is to energise our domestic defence industry. And to retool the ADF with asymmetric capabilities to deter a larger adversary.

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Dutton says gas reservation scheme could drive down prices by the end of the year

Dutton says the $10 per gigajoule for gas could come as soon as the end of this year, and that he’s been doing “months of work” in relation to how the east coast gas reservation policy would work.

We think by the end of the year is about the timing.

On how the scheme would work around existing contracts with other countries and overseas markets, Dutton says Australian gas companies would continue to honour contracts with international partners.

But the gas that’s sold beyond that we want to divert between, you know, 50 to 100 petajoules back into the market and that will fluctuate depending on the domestic need at the time and it will increase supply. We don’t want to temper demand.

Our pledge is to bring more gas on more quickly.

Dutton also says he’s already spoken to some of the “key players in the industry” . He says he has a “longstanding relationship” with the Japanese ambassador and his predecessors.

I think they [international players] understand there is a need for us to provide support to Australians and Australian gas should be first and foremost for Australians and it’s an important export industry for us and we’re not going to disrupt those foundation projects.

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