Jan 29, 2018
Good morning, early birds. The Prime Minister has announced a windfall for Australia's defence exporters. Plus, blackouts across Melbourne as energy networks struggle in sweltering temperatures. It's the news you need to know, with Chris Woods.
Prime Minister Malcolm Turnbull will today announce a $3.8 billion fund aimed at bringing Australia into the world’s top 10 defence exporters.
The Australian ($) reports that the Coalition's global defence strategy, set to be announced during a growing military build-up in the Asia-Pacific region and following Turnbull's tour of Japan earlier this month, will make loans available to defence companies looking to grow Australian employment, innovation and arms exports.
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> bringing Australia into the world’s top 10 defence exporters.
Turnbull has finally discovered that a war in the Pacific is likely to cut off defense supplies. In the old days we could have converted vehicle industries to military production. Not now!
The dirty open secret is that Australia lacks any real strategic fuel reserves in case of conflict. Australia really needs to develop a powerful merchant marine and shipyards. Alas we have a Government that managed to shut down our car industry – a few Bushmaster sales won’t go far. It would only take a couple of months blockade & Australia would have to shut down – our Government is bereft of any vision that dealing maturely & respectively with our most important trading partner is completely to our interest. If we want to behave like a mosquito there is an obvious outcome to our ineffectual buzzing & the elephants trumpeting is clearly receding into protectionism and isolationism.