by Boo_Randy
You’ll lower your standard of living to boost the one percent’s defense stocks, and you’ll like it.
A former head of ASIO says Australians should sacrifice their standard of living to enable more spending on defence amid building global tensions.
Former spy boss turned ANU professor Duncan Lewis said the 2-3 per cent of GDP set aside for defence would not come close to getting Australia where it needed to be.
Mr Lewis acknowledged the bump in spending would have an impact on Australians’ “personal prosperity”.
“I have a concern that we have bought nothing much that goes bang for many, many years in the defence capability portfolio,” Mr Lewis told the ANU National Security Podcast this week.
Prime Minister Anthony Albanese said during the election campaign Australia should spend “whatever is necessary” to defend its national interests – committing to maintain a figure above two per cent of GDP.