Bob Carr (NSW, Australian Labor Party, Minister for Foreign Affairs) Share this | Hansard source

Defence funding is not off track. The appropriation for 2012-13 is $24.2 billion. In the 2009-10 budget, the government for the first time budgeted over $100 billion for Defence across the forward estimates. In this budget, the government has again budgeted over $100 billion for Defence across the forward estimates. This includes over $21 billion in total capital investment. This level of funding is expected to maintain Australia's status as No. 13 in world defence expenditure. As a percentage of GDP, it is comparable to Canada, Italy and Germany. In a G7 context—that is the US, UK, France, Canada, Italy, Germany— (Time expired)