THE HON ANDREW HASTIE MP
SHADOW MINISTER FOR DEFENCE
SHADOW MINISTER FOR DEFENCE INDUSTRY
SHADOW MINISTER FOR DEFENCE PERSONNEL
FEDERAL MEMBER FOR CANNING

STATEMENT
AUSTRALIAN DEFENCE INDUSTRY IS DYING UNDER LABOR

Friday 6 September 2024

The Albanese Government is presiding over the slow decline of our remaining sovereign defence industry. 

Aussie businesses are closing their doors due to Labor’s lack of investment into Australian defence businesses.

A report that Australia will lose its only manufacturer of large bomb casings as a result of Labor preferencing overseas manufacturers is a troubling example of Labor failing to appreciate that strategic competition also involves growing and building our industrial sector.

The Albanese Government has implemented $80 billion of defence cuts, has deferred important capability decisions, and pondered lengthy reviews. Meanwhile, the clock is ticking.

The feedback from defence industry is consistent: there are very few contracts being awarded, and cash-flow is drying up for our dynamic and innovative Australian businesses.

This is forcing our businesses to either close or move offshore, making us dependent on other countries for crucial supply lines. This makes us weaker in a time of crisis or war. It makes us less able to support important allies like Ukraine.

Our strategic competitors are subsiding critical industries vital to their national security. They are even seeking to acquire Australian businesses.

The Albanese government thinks that the market will take care of this. That they can sit back and remain aloof. On the contrary, this is where the Albanese government must lead and invest in our sovereign capabilities.

Governments must make decisions about what is important for our national economy, and we must have the ability to sustain ourselves in critical areas like our defence industrial base —the lessons from Ukraine and Israel make this clear.

The Albanese legacy will be rapid deindustrialisation of the defence sector.

A strong defence industry means a stronger Australia. Yet Labor is weakening our defence industry, weakening the Australian Defence Force, and weakening our county.

We can’t afford another three years of Labor.

[ENDS]