1 week Ago By Lucy Craymer
New Zealand will boost its defence spending by $A8.3 billion over the next four years and nearly double its spending as a proportion of GDP to two per cent in the next eight years. Login or signup to continue reading The details came in remarks by Prime Minister Chris Luxon, who called for more spending on defence to ensure prosperity.
"New Zealand and our allies and partners across the world are no longer in a benign environment," he told a press conference on Monday at the release of the Defence Capability Plan . "Global tensions are increasing rapidly and New Zealand has stepped up on the world stage, but our current defence spending is simply too low. "My primary focus is the economic importance of this country.
However, there can be no prosperity without security, and defence is one vital component of that picture." The Defence Capability Plan maps out new funding of $NZ9 billion ($A8.3 billion) over the next four years to boost defence capability.
It comes on top of baseline spending set to be announced in May. The new spending is a significant boost to Defence Force spending of just under $NZ5 billion in 2024/25. New Zealand's first national security review in 2023 called for more military spending and stronger ties with Indo-Pacific nations to tackle issues of climate change and strategic competition between the West, and China and Russia.
New Zealand's Defence Force has struggled with systemic underspending over the past several decades, which amounts to just over one per cent of GDP now. High attrition in recent years has seen the force idle three of its ships and put on ice plans for a new vessel designed for patrol of the Southern Ocean. Over the next four years, the plan envisages the defence force will invest in projects such as boosting strike capability, buying an uncrewed aerial system, replacing helicopters and extending the life of its frigates.
It also plans to replace the Boeing 757 fleet after some embarrassing breakdowns that grounded delegations abroad. Australian Associated Press Daily Today's top stories curated by our news team. Also includes evening update.
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