A Senate inquiry into the AUKUS submarine deal has heard explosive testimony suggesting the true cost of the program could exceed $400 billion — more than double official government estimates — raising serious questions about fiscal transparency and strategic planning.
Former defence procurement officials told the committee on Wednesday that “optimism bias” in the government’s modelling had systematically underestimated both build times and unit costs for the nuclear-powered submarine fleet.
The numbers don’t add up
Senator David Pocock, who chairs the inquiry, described the gap between official figures and independent estimates as “deeply troubling” and called for an independent audit before any further commitments are signed with the United States and United Kingdom.
“The Australian people deserve to know what they are committing to. These are generational obligations, and the government’s numbers simply do not withstand scrutiny,” Senator Pocock said.
The Defence Minister Richard Marles rejected calls for an audit, insisting the government’s $368 billion estimate over the life of the program was “robust and considered.”
Independent analysts speaking with Breslin Media Network said the truth likely lies somewhere in between, but that either figure represents an extraordinary financial commitment for a country of Australia’s size.
