"The Government's recently released 2020 Defence Strategic Update and the 2020 Force Structure Plan released in July set clear strategic objectives for the nation and provide long-term funding certainty for Defence, including a $270 billion investment to 2029-30.
"Today's package includes a range of initiatives to support the development of the Australian defence industry and the defence industry workforce. Among other things, this includes accelerating the sustainment of ADF platforms and capabilities, accelerating important ADF capability development projects, and increased funding for Defence innovation, industry grants, skilling and micro credentialing and cyber training for Defence industry.
"The forthcoming 2020-21 Budget will be an opportunity to commence implementing these commitments.
"Along with updates to the Commonwealth Procurement Guidelines, and the anticipated changes to Defence's Australian Industry Capability (AIC) contractual framework and Independent AIC Audit Program, today's announcement provides a timely boost for Australian businesses during this current pandemic.
"We look forward to more detail on the individual projects, to allow the defence industry the opportunity for more detailed decision-making on investment and workforce skilling," Mr Willox said.
Media enquiries: Tony Melville – 0419 190 347