New $800m payment for AUKUS was scheduled, Prime Minister says
Anthony Albanese was asked about the new payment that took the total to $1.6bn, which was reported in Nine newspapers on Wednesday.
'There is a schedule of payments to be made, we have an agreement with the United States as well as with the United Kingdom,' Mr Albanese told ABC's Afternoon Briefing.
'It is about increasing the capacity, their industrial capacity, and as part of that, we have Australians on the ground, learning the skills so that when it comes to the SSN-AUKUS, the submarines being built here in Australia, we have those skills.'
Defence Minister Richard Marles earlier confirmed the report saying 'the payments are occurring in line with Australia's commitment to contribute US$2bn by the end of 2025, which underscores our commitment to the successful delivery of AUKUS Pillar I outcomes'.
The US' review was announced in June and is being headed up by Elbridge Colby, the US undersecretary of defence.
Mr Colby recently made headlines when it was revealed he was pressuring the Australian and Japanese governments to reveal what they would do if China invaded Taiwan.
The AUKUS deal is a long-term arrangement that will cost upwards of $268bn, and as much as $368bn, over the next 30 years.
Australia would buy nuclear submarines from the US, while developing our own capacity to build submarines in Adelaide.
The new payment came as Opposition defence spokesman Angus Taylor said he was 'worried' about the government's position on defence.
'I worry that the government – I think it's not just me worried, I think every expert looking at this is making these comments – they're deeply worried that we're not on our way to having the defence force we need in such an uncertain time,' Mr Taylor said.
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The Advertiser
an hour ago
- The Advertiser
Top End war games visit follows bilateral pact signing
With the ink dry on a 50-year Anglo-Australian submarine agreement, visiting British ministers David Lammy and John Healey are set to join Deputy Prime Minister Richard Marles for some fun and war games in the Top End. Mr Marles and Secretary of State Mr Healey put pen to paper on a bilateral deal said to strengthen ties around the AUKUS nuclear submarine agreement in Geelong on Saturday despite a review of the three-nation pact by the US government. AUKUS, formed with the UK and US in 2021 to address concerns about China's rising military ambition, is designed to enable Australia to acquire nuclear-powered attack submarines in the 2040s. However, concerns over the viability of the $560 billion deal have been ongoing since the Trump administration initiated a review to examine if it meets its "America-first" criteria. In a bid to put the matter to rest, Mr Marles insisted after the Geelong Treaty signing that it built on "the strong foundation of trilateral co-operation between Australia, the UK and the United States" and advanced the shared objectives of AUKUS. "It will support the development of the personnel, workforce, infrastructure and regulatory systems required for Australia's ... AUKUS program" as well as support the rotational presence of a UK Astute-class submarine at HMAS Stirling in Perth, he said. Mr Marles said he remained confident about the future of US involvement in the partnership, as did Mr Healey and Mr Lammy, Britain's Foreign Secretary. Australia will pay $5 billion to support British industry in designing and producing nuclear reactors to power the future AUKUS-class subs. It will also acquire at least three Virginia-class nuclear-powered submarines from the US in the early 2030s. With the formalities done and dusted, Mr Marles, Mr Lammy and Mr Healey are expected to attend Talisman Sabre in Darwin on Sunday. Australia's largest and most sophisticated war-fighting exercise started on July 13 and involves more than 35,000 personnel from 19 militaries across three weeks. In addition to the US, forces from Canada, Fiji, France, Germany, India, Indonesia, Japan, the Netherlands, New Zealand, Norway, Papua New Guinea, the Philippines, the Republic of Korea, Singapore, Thailand, Tonga, and the UK have joined as partners. Malaysia and Vietnam are also attending as observers. The 2025 war games involve the UK's Carrier Strike Group, led by the Royal Navy flagship HMS Prince of Wales - the first UK carrier strike group to visit Australia since 1997. With the ink dry on a 50-year Anglo-Australian submarine agreement, visiting British ministers David Lammy and John Healey are set to join Deputy Prime Minister Richard Marles for some fun and war games in the Top End. Mr Marles and Secretary of State Mr Healey put pen to paper on a bilateral deal said to strengthen ties around the AUKUS nuclear submarine agreement in Geelong on Saturday despite a review of the three-nation pact by the US government. AUKUS, formed with the UK and US in 2021 to address concerns about China's rising military ambition, is designed to enable Australia to acquire nuclear-powered attack submarines in the 2040s. However, concerns over the viability of the $560 billion deal have been ongoing since the Trump administration initiated a review to examine if it meets its "America-first" criteria. In a bid to put the matter to rest, Mr Marles insisted after the Geelong Treaty signing that it built on "the strong foundation of trilateral co-operation between Australia, the UK and the United States" and advanced the shared objectives of AUKUS. "It will support the development of the personnel, workforce, infrastructure and regulatory systems required for Australia's ... AUKUS program" as well as support the rotational presence of a UK Astute-class submarine at HMAS Stirling in Perth, he said. Mr Marles said he remained confident about the future of US involvement in the partnership, as did Mr Healey and Mr Lammy, Britain's Foreign Secretary. Australia will pay $5 billion to support British industry in designing and producing nuclear reactors to power the future AUKUS-class subs. It will also acquire at least three Virginia-class nuclear-powered submarines from the US in the early 2030s. With the formalities done and dusted, Mr Marles, Mr Lammy and Mr Healey are expected to attend Talisman Sabre in Darwin on Sunday. Australia's largest and most sophisticated war-fighting exercise started on July 13 and involves more than 35,000 personnel from 19 militaries across three weeks. In addition to the US, forces from Canada, Fiji, France, Germany, India, Indonesia, Japan, the Netherlands, New Zealand, Norway, Papua New Guinea, the Philippines, the Republic of Korea, Singapore, Thailand, Tonga, and the UK have joined as partners. Malaysia and Vietnam are also attending as observers. The 2025 war games involve the UK's Carrier Strike Group, led by the Royal Navy flagship HMS Prince of Wales - the first UK carrier strike group to visit Australia since 1997. With the ink dry on a 50-year Anglo-Australian submarine agreement, visiting British ministers David Lammy and John Healey are set to join Deputy Prime Minister Richard Marles for some fun and war games in the Top End. Mr Marles and Secretary of State Mr Healey put pen to paper on a bilateral deal said to strengthen ties around the AUKUS nuclear submarine agreement in Geelong on Saturday despite a review of the three-nation pact by the US government. AUKUS, formed with the UK and US in 2021 to address concerns about China's rising military ambition, is designed to enable Australia to acquire nuclear-powered attack submarines in the 2040s. However, concerns over the viability of the $560 billion deal have been ongoing since the Trump administration initiated a review to examine if it meets its "America-first" criteria. In a bid to put the matter to rest, Mr Marles insisted after the Geelong Treaty signing that it built on "the strong foundation of trilateral co-operation between Australia, the UK and the United States" and advanced the shared objectives of AUKUS. "It will support the development of the personnel, workforce, infrastructure and regulatory systems required for Australia's ... AUKUS program" as well as support the rotational presence of a UK Astute-class submarine at HMAS Stirling in Perth, he said. Mr Marles said he remained confident about the future of US involvement in the partnership, as did Mr Healey and Mr Lammy, Britain's Foreign Secretary. Australia will pay $5 billion to support British industry in designing and producing nuclear reactors to power the future AUKUS-class subs. It will also acquire at least three Virginia-class nuclear-powered submarines from the US in the early 2030s. With the formalities done and dusted, Mr Marles, Mr Lammy and Mr Healey are expected to attend Talisman Sabre in Darwin on Sunday. Australia's largest and most sophisticated war-fighting exercise started on July 13 and involves more than 35,000 personnel from 19 militaries across three weeks. In addition to the US, forces from Canada, Fiji, France, Germany, India, Indonesia, Japan, the Netherlands, New Zealand, Norway, Papua New Guinea, the Philippines, the Republic of Korea, Singapore, Thailand, Tonga, and the UK have joined as partners. Malaysia and Vietnam are also attending as observers. The 2025 war games involve the UK's Carrier Strike Group, led by the Royal Navy flagship HMS Prince of Wales - the first UK carrier strike group to visit Australia since 1997. With the ink dry on a 50-year Anglo-Australian submarine agreement, visiting British ministers David Lammy and John Healey are set to join Deputy Prime Minister Richard Marles for some fun and war games in the Top End. Mr Marles and Secretary of State Mr Healey put pen to paper on a bilateral deal said to strengthen ties around the AUKUS nuclear submarine agreement in Geelong on Saturday despite a review of the three-nation pact by the US government. AUKUS, formed with the UK and US in 2021 to address concerns about China's rising military ambition, is designed to enable Australia to acquire nuclear-powered attack submarines in the 2040s. However, concerns over the viability of the $560 billion deal have been ongoing since the Trump administration initiated a review to examine if it meets its "America-first" criteria. In a bid to put the matter to rest, Mr Marles insisted after the Geelong Treaty signing that it built on "the strong foundation of trilateral co-operation between Australia, the UK and the United States" and advanced the shared objectives of AUKUS. "It will support the development of the personnel, workforce, infrastructure and regulatory systems required for Australia's ... AUKUS program" as well as support the rotational presence of a UK Astute-class submarine at HMAS Stirling in Perth, he said. Mr Marles said he remained confident about the future of US involvement in the partnership, as did Mr Healey and Mr Lammy, Britain's Foreign Secretary. Australia will pay $5 billion to support British industry in designing and producing nuclear reactors to power the future AUKUS-class subs. It will also acquire at least three Virginia-class nuclear-powered submarines from the US in the early 2030s. With the formalities done and dusted, Mr Marles, Mr Lammy and Mr Healey are expected to attend Talisman Sabre in Darwin on Sunday. Australia's largest and most sophisticated war-fighting exercise started on July 13 and involves more than 35,000 personnel from 19 militaries across three weeks. In addition to the US, forces from Canada, Fiji, France, Germany, India, Indonesia, Japan, the Netherlands, New Zealand, Norway, Papua New Guinea, the Philippines, the Republic of Korea, Singapore, Thailand, Tonga, and the UK have joined as partners. Malaysia and Vietnam are also attending as observers. The 2025 war games involve the UK's Carrier Strike Group, led by the Royal Navy flagship HMS Prince of Wales - the first UK carrier strike group to visit Australia since 1997.


The Advertiser
an hour ago
- The Advertiser
EU chief heads to Scotland for trade talks with Trump
EU Commission President Ursula von der Leyen has headed to Scotland ahead of a meeting with US President Donald Trump, as speculation mounts of a trade agreement. Trump, in Scotland for a few days of golfing and bilateral meetings, told reporters upon his arrival on Friday evening that he was looking forward to meeting with von der Leyen, calling her a "highly respected" leader. He repeated his view that there was a 50-50 chance that the US and the 27-member European Union could reach a framework trade pact. He added that Brussels wanted to "make a deal very badly". If it happened, he said it would be the biggest trade agreement reached yet by his administration, surpassing the $US550 billion ($A826 billion) accord agreed with Japan last week. The White House has released no details about the planned meeting or the terms of the emerging agreement. The European Commission on Thursday said a negotiated trade solution with the United States was within reach, even as EU members voted to approve counter-tariffs on 93 billion euros ($A164 billion) of US goods in case the talks collapse. To get a deal, Trump said the EU would have to "buy down" that tariff rate, although he gave no specifics. EU diplomats say a possible deal between Washington and Brussels would likely include a broad 15 per cent tariff on EU goods imported into the US, mirroring the US-Japan deal, along with a 50 per cent tariff on European steel and aluminium. The broad tariff rate would be half the 30 per cent duties that Trump has threatened to slap on EU goods from August 1. It remains unclear if Washington will agree to exempt the EU from sectoral tariffs on cars, pharmaceuticals and other goods that have already been announced or are pending. Combining goods, services and investment, the EU and the United States are each other's largest trading partners by far. The American Chamber of Commerce in Brussels warned in March that any conflict would jeopardise $US9.5 ($A14.3) trillion of business in the world's most important commercial relationship. EU Commission President Ursula von der Leyen has headed to Scotland ahead of a meeting with US President Donald Trump, as speculation mounts of a trade agreement. Trump, in Scotland for a few days of golfing and bilateral meetings, told reporters upon his arrival on Friday evening that he was looking forward to meeting with von der Leyen, calling her a "highly respected" leader. He repeated his view that there was a 50-50 chance that the US and the 27-member European Union could reach a framework trade pact. He added that Brussels wanted to "make a deal very badly". If it happened, he said it would be the biggest trade agreement reached yet by his administration, surpassing the $US550 billion ($A826 billion) accord agreed with Japan last week. The White House has released no details about the planned meeting or the terms of the emerging agreement. The European Commission on Thursday said a negotiated trade solution with the United States was within reach, even as EU members voted to approve counter-tariffs on 93 billion euros ($A164 billion) of US goods in case the talks collapse. To get a deal, Trump said the EU would have to "buy down" that tariff rate, although he gave no specifics. EU diplomats say a possible deal between Washington and Brussels would likely include a broad 15 per cent tariff on EU goods imported into the US, mirroring the US-Japan deal, along with a 50 per cent tariff on European steel and aluminium. The broad tariff rate would be half the 30 per cent duties that Trump has threatened to slap on EU goods from August 1. It remains unclear if Washington will agree to exempt the EU from sectoral tariffs on cars, pharmaceuticals and other goods that have already been announced or are pending. Combining goods, services and investment, the EU and the United States are each other's largest trading partners by far. The American Chamber of Commerce in Brussels warned in March that any conflict would jeopardise $US9.5 ($A14.3) trillion of business in the world's most important commercial relationship. EU Commission President Ursula von der Leyen has headed to Scotland ahead of a meeting with US President Donald Trump, as speculation mounts of a trade agreement. Trump, in Scotland for a few days of golfing and bilateral meetings, told reporters upon his arrival on Friday evening that he was looking forward to meeting with von der Leyen, calling her a "highly respected" leader. He repeated his view that there was a 50-50 chance that the US and the 27-member European Union could reach a framework trade pact. He added that Brussels wanted to "make a deal very badly". If it happened, he said it would be the biggest trade agreement reached yet by his administration, surpassing the $US550 billion ($A826 billion) accord agreed with Japan last week. The White House has released no details about the planned meeting or the terms of the emerging agreement. The European Commission on Thursday said a negotiated trade solution with the United States was within reach, even as EU members voted to approve counter-tariffs on 93 billion euros ($A164 billion) of US goods in case the talks collapse. To get a deal, Trump said the EU would have to "buy down" that tariff rate, although he gave no specifics. EU diplomats say a possible deal between Washington and Brussels would likely include a broad 15 per cent tariff on EU goods imported into the US, mirroring the US-Japan deal, along with a 50 per cent tariff on European steel and aluminium. The broad tariff rate would be half the 30 per cent duties that Trump has threatened to slap on EU goods from August 1. It remains unclear if Washington will agree to exempt the EU from sectoral tariffs on cars, pharmaceuticals and other goods that have already been announced or are pending. Combining goods, services and investment, the EU and the United States are each other's largest trading partners by far. The American Chamber of Commerce in Brussels warned in March that any conflict would jeopardise $US9.5 ($A14.3) trillion of business in the world's most important commercial relationship. EU Commission President Ursula von der Leyen has headed to Scotland ahead of a meeting with US President Donald Trump, as speculation mounts of a trade agreement. Trump, in Scotland for a few days of golfing and bilateral meetings, told reporters upon his arrival on Friday evening that he was looking forward to meeting with von der Leyen, calling her a "highly respected" leader. He repeated his view that there was a 50-50 chance that the US and the 27-member European Union could reach a framework trade pact. He added that Brussels wanted to "make a deal very badly". If it happened, he said it would be the biggest trade agreement reached yet by his administration, surpassing the $US550 billion ($A826 billion) accord agreed with Japan last week. The White House has released no details about the planned meeting or the terms of the emerging agreement. The European Commission on Thursday said a negotiated trade solution with the United States was within reach, even as EU members voted to approve counter-tariffs on 93 billion euros ($A164 billion) of US goods in case the talks collapse. To get a deal, Trump said the EU would have to "buy down" that tariff rate, although he gave no specifics. EU diplomats say a possible deal between Washington and Brussels would likely include a broad 15 per cent tariff on EU goods imported into the US, mirroring the US-Japan deal, along with a 50 per cent tariff on European steel and aluminium. The broad tariff rate would be half the 30 per cent duties that Trump has threatened to slap on EU goods from August 1. It remains unclear if Washington will agree to exempt the EU from sectoral tariffs on cars, pharmaceuticals and other goods that have already been announced or are pending. Combining goods, services and investment, the EU and the United States are each other's largest trading partners by far. The American Chamber of Commerce in Brussels warned in March that any conflict would jeopardise $US9.5 ($A14.3) trillion of business in the world's most important commercial relationship.

News.com.au
an hour ago
- News.com.au
Stock Tips: One expert makes a Sigma call, Aussie Broadband connects with another
It's no easy gig analysing share prices and company performance but somebody's got to do it. Every week two experts from our Share Tips columnist pool give us their recommendations. Toby Grimm – Baker Young Limited BUY Sigma Healthcare (ASX:SIG) Sigma's merger with Chemist Warehouse created Australia's dominant vertically integrated pharmacy group with a high growth outlook given our ageing population and wellness trends. Pinnacle Investment (ASX:PNI) Pinnacle should benefit significantly from the market's rally back to all-time highs with base and performance fees likely to exceed recently downgraded expectations. HOLD South32 (ASX:S32) The company's quarterly production update showed encouraging operational performance, and we note the Hermosa project in the US could be a tier one asset given supportive US critical mineral security policy. Woodside Energy Group (ASX:WDS) Alongside a relatively impressive quarterly output report, Woodside has confirmed key development projects are on track reducing risk and improving free cash flow available for distributions. SELL AMP (ASX:AMP) Recent share price appreciation underestimates continued competitive challenges and continuing investment needs. Combined with sub-optimal bank operations we see risks of setbacks and would be exiting. Helia Group (ASX:HLI) The loss of Commonwealth Bank and potentially ING mortgage insurance contracts (combined worth more than half the business' premiums in 2024) underscores a lack of competitive advantage and growth. Tony Paterno – Ord Minnett BUY Aussie Broadband (ASX:ABB) Remains well placed to grow market share as consumers trend to higher speed tiers and the NBN's fibre upgrade program rolls out. ARB Corporation (ASX:ARB) Australian new vehicles sales increased by 2.4% in Jun-25. ARB's key vehicle sales increased 15.0% in June, with the SUV and LCV market both lifting. HOLD Bapcor (ASX:BAP) After the recent strategy day, the company's key messages are on business simplification, continuing cost initiatives and improving retail operations. It expects operational improvements following headcount reductions and warehouse consolidation. Brickworks (ASX:BKW) Demand for BKW's Industrial property developments remain solid, with further growth in rental income expected. In Australia, recent rate cuts are expected to translate into improved housing activity late in 2025. SELL Evolution Mining (ASX:EVN) EVN delivered a slightly softer quarter result (higher capex), whilst the outlook showed higher costs. Trading expensive at these levels. Lynas (ASX:LYC) We believe the optimistic LYC share price rise since the MP Materials & DoD deal is misplaced. We don't believe they will benefit and the US has gone all-in on its domestic producer.