Good evening and thank you for reading our live coverage of the day’s events. If you are just joining us now, here’s what you need you know:
- Australia will acquire its first fleet of nuclear-powered submarines as part of a historic defence pact with the US and the UK, aimed at countering China’s growing influence in the Indo-Pacific. The new AUKUS alliance, announced today and described by Mr Morrison as a “forever partnership”, is regarded as Australia’s most significant strategic move in decades, and brings with it risks and rewards.
- Just how big a deal is this? Political editor Peter Hartcher writes that China already has 66 submarines and is expected to have 10 more by 2030, six of which are nuclear powered, according to the US Office of Naval Intelligence. By that date, Hartcher says, Australia will still only have the same six Collins class diesel powered subs that were first commissioned by the Hawke government, if they are still functional. Their retirement has been postponed repeatedly by successive governments, Labor and Liberal.
- Federal Opposition leader Anthony Albanese said “the proposal is that the new submarines would not be in the water until 2040”. But chief political correspondent David Crowe writes that the government will consider whether the first vessels could be built overseas (instead of Adelaide) in order to deploy some of the fleet as soon as possible in the 2030s.
- China has slammed the alliance. “The US, UK and Australia are engaging in cooperation in nuclear-powered submarines that gravely undermines regional peace and stability, aggravates the arms race and hurts the international non-proliferation efforts,” Chinese foreign ministry spokesman Zhao Lijian said at a press briefing in Beijing late on Thursday.
- The pact will result in Australia tearing up a controversial $90 billion deal with French submarine maker Naval Group that the Turnbull government struck in 2016. While Mr Morrison insisted “France remains an incredibly important partner in the Pacific”, Europe correspondent Bevan Shields writes that the fallout is likely to be considerable. Mr Albanese took aim at the government for wasting billions, saying “we know there are contracts in place already that will be breached, and we know there will be substantial compensation costs payable.”