Saturday, February 21, 2009

Financial Crisis

THE global financial crisis is the biggest threat to Kevin Rudd's grand ambition for the new defence white paper, due in late April.

The white paper is in its final drafting stage and is due to go before cabinet's national security committee next month for an endorsement by the Prime Minister and senior ministers.

While Mr Rudd is sticking to his election pledge to lift defence spending by 3 per cent a year in real terms to 2019, the rapidly deteriorating global economy could force the Government to pull back on firm commitments to future multi-billion-dollar defence purchases including warships, submarines and fighter aircraft.,25197,25070989-31477,00.html

No comments: