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Former Australian Government spends billions over budget on bungled defence plan
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.
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.
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?
News
Who was Turning Point USA founder Charlie Kirk?
Conservative activist Charlie Kirk assassinated at Utah university, leaving a significant void in U.S. conservative politics. #BreakingNews
Conservative activist Charlie Kirk assassinated at Utah university, leaving a significant void in U.S. conservative politics. #BreakingNews
Conservative activist Charlie Kirk has been assassinated while speaking at a Utah university, sparking shock and grief across America.
Known as the founder of Turning Point USA, Kirk became a leading voice in the MAGA movement, shaping conservative youth politics and energising Donald Trump’s base.
His sudden death leaves a major void in the U.S. conservative landscape.
#CharlieKirk #TurningPointUSA #USPolitics #BreakingNews #TickerNews
News
Oracle stock surges, pushing Ellison toward richest title
Oracle shares soar 43%, pushing Larry Ellison closer to top billionaire status amid AI cloud contract boom
Oracle shares soar 43%, pushing Larry Ellison closer to top billionaire status amid AI cloud contract boom
– Oracle shares rose 43% to $345.69, nearing a trillion-dollar valuation after multi-billion-dollar contracts were announced.
– Co-founder Larry Ellison’s net worth increased to $392.6 billion, making him a contender for the world’s richest person.
The surge boosts co-founder Larry Ellison’s net worth to approximately $392.6 billion, making him a contender for the world’s richest person, currently held by Elon Musk at $439.9 billion.
Oracle expects to see a market valuation around $913 billion if gains hold, contributing an additional $234 billion.
Market Dynamics
Oracle’s significant contracts include one with OpenAI for about $300 billion in computing power over five years.
The partnership is critical as Oracle aims to expand its market share, currently dominated by Microsoft, Amazon, and Google, which collectively hold 65%.
The company also supports AI startups, including xAI, founded by Musk, affirming its essential role in upcoming large-scale AI infrastructure projects, projected to reach $500 billion.
News
Charlie Kirk has died following shooting at Utah university
Charlie Kirk shot during speech at Utah Valley University as law enforcement investigates the incident
Charlie Kirk shot during speech at Utah Valley University as law enforcement investigates the incident
– Charlie Kirk, conservative commentator, was shot during a speech at Utah Valley University on Wednesday.
– Authorities are investigating the incident, with the community showing strong support for Kirk.
Charlie Kirk, a prominent conservative commentator, has died after he was shot while speaking at Utah Valley University on Wednesday.
The incident occurred around noon local time, with video footage circulating on social media showing the moment shots were fired.Kirk is the founder and CEO of Turning Point USA, a significant conservative youth organisation active across 3,500 college campuses.
He has been influential on the right and is known for his podcast and “Prove Me Wrong” debates.
Kirk, 31, also played a key role in Donald Trump’s outreach to young voters during the 2024 election.
The university, located in Orem, Utah, is home to over 46,000 students, making it the largest in the state.
Ongoing Updates
Authorities are actively investigating the shooting, and further developments are expected.
Community response has been strong, with calls for prayers and support for Kirk following the incident.
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