Latest news with #A1.85b
Perth Now
04-05-2025
- Business
- Perth Now
NZ to spend $2 billion on new maritime helicopters
New Zealand will spend billions replacing the Defence Force's aging maritime helicopters, as global tensions increase. Along with the $NZ2 billion ($A1.85b) for the helicopters, the government said it would increase baseline spending by $NZ239 million ($A207m) for the Defence Force each year over the next four years. "It is very clear that New Zealand is not immune from the increasing tensions being felt throughout the world," New Zealand Defence Minister Judith Collins said in a statement on Monday. "(This) sets us on our path for defence spending to reach two per cent of GDP by 2032-33," she said. New Zealand's Defence Force has struggled with systemic underspending over the past several decades, which amounts to just over one per cent of GDP now. In April, the government said it would boost defence spending with $NZ9 billion ($A8b) of new funding over the next four years. "There is no economic security without national security. Global tensions are increasing rapidly, and Defence personnel need the right equipment and conditions to do their jobs," Collins said. "As a maritime nation we are prioritising naval capability," she said. New Zealand's first national security review in 2023 called for more military spending and stronger ties with Indo-Pacific nations to tackle climate change and strategic competition among the West, China and Russia. New Zealand has eight SH-2G(I) Seasprite maritime helicopters. Collins said replacing these will increase the defensive and offensive capabilities and surveillance range of New Zealand's frigates. Collins added she will have more to say about defence investments in the coming year when the government unveils its budget. New Zealand's budget is scheduled for May 22, and will outline spending for the 12-month period to June 30, 2026.
West Australian
04-05-2025
- Business
- West Australian
NZ to spend $2 billion on new maritime helicopters
New Zealand will spend billions replacing the Defence Force's aging maritime helicopters, as global tensions increase. Along with the $NZ2 billion ($A1.85b) for the helicopters, the government said it would increase baseline spending by $NZ239 million ($A207m) for the Defence Force each year over the next four years. "It is very clear that New Zealand is not immune from the increasing tensions being felt throughout the world," New Zealand Defence Minister Judith Collins said in a statement on Monday. "(This) sets us on our path for defence spending to reach two per cent of GDP by 2032-33," she said. New Zealand's Defence Force has struggled with systemic underspending over the past several decades, which amounts to just over one per cent of GDP now. In April, the government said it would boost defence spending with $NZ9 billion ($A8b) of new funding over the next four years. "There is no economic security without national security. Global tensions are increasing rapidly, and Defence personnel need the right equipment and conditions to do their jobs," Collins said. "As a maritime nation we are prioritising naval capability," she said. New Zealand's first national security review in 2023 called for more military spending and stronger ties with Indo-Pacific nations to tackle climate change and strategic competition among the West, China and Russia. New Zealand has eight SH-2G(I) Seasprite maritime helicopters. Collins said replacing these will increase the defensive and offensive capabilities and surveillance range of New Zealand's frigates. Collins added she will have more to say about defence investments in the coming year when the government unveils its budget. New Zealand's budget is scheduled for May 22, and will outline spending for the 12-month period to June 30, 2026.
