Tribune’s note

Minister Keogh released the defence and veterans' affairs budget statement on 12 May 2026, announcing the largest peacetime increase in Australian defence spending. The 2026 Budget adds $53 billion over the decade under the National Defence Strategy and Integrated Investment Program, bringing total defence funding to $887 billion through 2035–36. Beyond force capability, the statement committed more than $770 million to Royal Commission recommendations for veterans, including the largest allied health fee investment in over 20 years and a new inquiry into military sexual violence.

A new Defence Delivery Agency, to launch 1 July 2027, frames the record spend within a value-for-money and faster-capability-delivery mandate.

Primary records (1)

The official records this note draws on — the raw primary documents themselves, as published.

MediaJoint media release - Albanese Government delivering for Defence and our veteransMatt KeoghTuesday 12 May 2026