Arthur Sinodinos (NSW, Liberal Party, Cabinet Secretary) Share this | Hansard source

One of the things that got me particularly excited last week was the release by the Prime Minister and the Minister for Defence of a defence industry policy statement. This is a landmark document which shows the determination of the government to transform its relationship with defence industry. The government will cut red tape for our defence industry firms, making it easier to do business with government. We will build a new strategic partnership with industry for a strong and sustainable defence sector. We have formally recognised for the first time the vital role of Australian defence industry as an input to our capability. In particular, I draw the attention of the chamber to $1.6 billion over 10 years in new initiatives, such as $640 million for a defence innovation hub which will foster collaborative innovation from concept through prototyping, testing and introduction into service.

An opposition senator: That's exciting!

It is exciting for me.