The third meeting of the Tri-Partite Defence Industry Council was held at Parliament House in Canberra today, with productivity in the defence sector a key topic of discussion.
Minister for Defence Industry Pat Conroy and Minister for Industry and Innovation Tim Ayres convened the bi-annual meeting of representatives from in the defence sector, providing a valuable opportunity for input from stakeholders on the government's economic reform agenda.
The Albanese Government has committed to a generational increase in defence funding, with the Defence budget projected to reach $100 billion per year by 2033-34. Improving the productivity of the defence sector - including through reforms to procurement - can therefore play an important role in strengthening budget sustainability as part of the government's broader economic reform agenda.
Further consultation with industry stakeholders will occur as part of the 2026 Defence Industry Development Strategy (DIDS). Consultation to identify challenges and opportunities for inclusion in the DIDS will commence in September, with a focus on further accelerating the development of the industrial base.
The next Tri-Partite Defence Industry Council meeting will be held in early 2026.
