Labor’s budget forecast for AUKUS is as murky as the ocean’s depths

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The total cost of Australia’s submarine deal with the UK and US remains a mystery, but there’s plenty of detail on the coming years.

Australian Defence Minister Richard Marles (Image: AAP/Lukas Coch)

The federal government has admitted it has no idea how much the total cost of the AUKUS program will be.

A Defence Department statement about “fiscal risks” contained in Tuesday’s budget says it’s currently impossible to calculate the total cost of the nuclear-powered submarine program.

“The total costs associated with the program will not be known until design and production processes are settled and commercial and other arrangements are finalised between governments and delivery partners,” the statement says.

Read more about the 2023 federal budget.

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