The builder of the navy’s new $10 billion warships will not be determined until after the next federal election, sparking fresh accusations of government dithering over defence despite senior ministers’ rhetoric about Australia needing to arm up quickly.

As revealed by The Australian Financial Review, the Albanese government this week whittled down the contenders for its general purpose frigate project to two bids – from German shipbuilder ThyssenKrupp Marine Systems (TKMS) and Japanese shipbuilder Mitsubishi Heavy Industries.