Aug 27, 2020, 07:00 EST
Bronx, United States, Aug 27, 2020, 07:00 /Comserve / -- In order to provide a boost to Australia’s defense industry, the Morrison Government has announced an AUD 1 billion investment package. This package will support nationwide projects and help create jobs across Australia.
Australia, Aug. 26, 2020 -- In order to provide a boost to Australia’s defense industry, the Morrison Government has announced an AUD 1 billion investment package. This package will support nationwide projects and help create jobs across Australia.
There are several key points included in the official release. The package aims to increase the employment of ADF Reservists who no longer receive civilian income along with an allocation of up to an extra 210,000 days. There will also be additional targeted recruitment of 500 ADF Reservists. For the current and former ADF personnel and their families, the package aims to increase employment opportunities.
With a focus on regional areas (including bushfire affected areas), An AUD 300 million national estate works program will be set up. The areas include RAAF Bases East Sale, Wagga and Amberley, Jervis Bay & Eden among others.
The package will assist in accelerating the sustainment of ADF platforms and capabilities. These include, and are not limited to, the modernization of ADF uniforms and C-27J maintenance. This will also engage ex-Qantas and Virgin technicians.
AUD 190 million has been marked for investment in approved infrastructure projects in the North.
The Defence industry will also see an increase in funding for defense innovations, grants, skilling and micro-credentialing, and cyber training.
The GDP of Australia as of 2019 was calculated to USD 1.393 trillion out of which a significant portion goes for defense budget allocation. The Minister of Defence Industry, Melissa Price talked about how it is necessary now to back Australian businesses and create more jobs. She wants to ensure that the defense industry continues to provide vital supply chains in order to maintain defense capabilities.
She also mentioned that the 70,000-strong workforce in the industry will be supported by these projects in the defense industry supply chain. It will also help those benefiting from investment in defense.
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