Australia boosts military spending

Australia's defense minster says the Iran war had greatly complicated the global strategic landscape and the country is significantly increasing its military spending.

Richard Marles released the latest two-year update of Australia’s defense strategy and said an additional $38 billion in spending on defense was planned over the next decade.

Australia’s defense budget would grow from 2.8% of GDP this year to 3% by 2033 He said Thursday that after the Iran war started, “The world feels less safe.” Australia’s largest-ever defense investment is expected to be a fleet of at least eight submarines powered by U.S. nuclear technology provided through a partnership with the United States and Britain.