Defence facing a battle of the budget bulge
Defence is about to face a cashflow crunch within the next few years as the mega projects get underway. Alex Ellinghausen
When Malcolm Turnbull named French company DCNS as the winning bidder of a contract to build a fleet of 12 submarines in April 2016, he was effusive.
"This is a momentous national endeavour," Turnbull declared, standing in the shipyard at Adelaide. "We do this to secure Australia, to secure our island nation. But we do it also to ensure that our economy transitions to the economy of the 21st century. Australian built, Australian jobs, Australian steel."
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