Don Farrell (SA, Australian Labor Party, Minister for Trade and Tourism) Share this | Hansard source

I thank Senator Ciccone for his question. I know he has a deep interest in Australian security matters. The AUKUS optimal pathway, announced last week, is an unprecedented investment in our national power. The acquisition of nuclear powered submarines will be the single greatest defence capability acquisition in our history. I'll repeat that: it's the single greatest defence investment in our history. Our nuclear powered submarines will be an Australian sovereign capability commanded by the Royal Australian Navy and sustained by Australian shipyards.

Senators have heard members of the government speak of how our region is at the centre of a world that is being reshaped, of how we face our most challenging circumstances since the Second World War. AUKUS is one element of Australia's approach to addressing this strategic environment and contributing to strategic balance in our region. I hope senators would agree that Australia has a responsibility to contribute to a regional balance and capability that helps underpin regional stability. We want to ensure that no state will ever conclude that the benefits of conflict outweigh the risks, and so nuclear powered submarines are part of our contribution to this aim by transforming our ability to deter or respond to any future threats. As part of our contribution to the regional balance, these submarines add to collective security in a region where no country dominates and no country is dominated.