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Former Australian Government spends billions over budget on bungled defence plan

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The former Australian government has been accused of “flushing money down the toilet” after it was revealed its defence projects have blown out by billions

Australia’s Deputy Prime Minister and Minister for Defence Richard Marles has taken aim at the former coalition.

He said their defence management was “one of the worst in Australian history” and a “complete mess.”

He continued saying they “flushed money down the toilet” and did not manage the budget effectively.

Richard Marles, Minister for Defence in Australia

Bungled defence management

It has been revealed that 28 defence projects are running behind schedule by a cumulative 97 years. Including projects like the offshore patrol vessels and the battlefield command system.

Hunter Class frigates

In addition, defence projects are currently at least $6.5 billion dollars over budget, and this hasn’t factored in the controversial nuclear sub deal yet.

It’s no secret that Australia has been ramping up its defence spending in recent years, but the recent figures show the former government was not able to manage this increased expenditure effectively.

To prevent this in future, the current coalition is promising to implement strict trigger warnings on struggling projects.

They have also planned to do an overhaul of the entire defence portfolio.

This comes at a time when the Government is under immense pressure to rebuild the country economically, but faces an uphill battle after the pandemic, and the crunch of inflation.

So the question remains, will this impact Australia’s defence capability at a time when geopolitical tensions are at an all time high?

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Why is “Stagflation” so significant?

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With inflation soaring and economic growth tapering off, concerns about stagflation are on the rise

 
Elon Musk’s decision to disband Tesla’s electric vehicle charging team has left customers concerned about the future of the company’s charging infrastructure.

The move comes as a surprise to many, considering Tesla’s commitment to expanding its charging network to support its growing fleet of EVs #featured

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TikTok’s fate in the United States

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TikTok’s fate in the United States has never been more in doubt.

Congress approved a bill, which President Joe Biden signed into law that gives its Chinese parent company two options: sell it to an approved buyer or see it banned.

But now, the owners of the popular social media app says they’re preparing to challenge the statute in court.

Andy Keiser a Senior Fellow at the National Security Institute, and a Former Senior Advisor for the House Intelligence Committee joins Veronica Dudo to discuss. #IN AMERICA TODAY #featured #business #socialmedia #TikTok #TikTokban #nationalsecurity

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