Jacqui Lambie (Tasmania, Jacqui Lambie Network) Share this | Hansard source

In five days time the AUKUS agreement will be three years old, but, in the last 36 months, all we've really got from AUKUS is the cancellation of other needed defence programs so that Australian taxpayers can cover the massive $368 billion price tag. This huge, all-eggs-in-one-basket program comes at a huge opportunity cost to the rest of the Australian Defence Force.

Putting the cost to one side, we're supposed to get three US Virginia class submarines sometime in the mid-2030s, but we'll get them only if the US can increase its submarine build rate from 1.4 to 2.3 boats a year. We're gifting $4.7 billion of your money, Australians, to try and increase the build rate, but expert commentators are predicting the US won't hit its target of 2.3 boats a year, so they won't hand over any of the Virginia class submarines to Australia. Good one on that!

The geniuses in Defence haven't negotiated any refund of your money if they don't come through on their commitment. How much of a dud is this deal? Then we'll apparently build five UK designed AUKUS submarines. That's the plan, despite the fact the UK are reliably late and overbudgeted on all their shipbuilding programs and they can't put any of their current Astute class submarines to sea. It's hardly an inspiring choice of partner, is it? This is it—this is the mess you've left us in.

We've also written them a $4 billion cheque, Australians, to help them get their act together, again with no refund option for you taxpayers out there. AUKUS is eye-wateringly expensive. It won't give useful capability anytime soon. It bleeds money from other defence programs, leaving our defence industry without work, undermining our sovereignty and harming national security. Sadly, this bad idea seems to be all but unstoppable.