Mining magnate Gina Rinehart has urged the federal government to raise defence spending to 5 per cent of GDP, speaking at an Anzac Day Eve event at the Sydney Opera House, where she appeared alongside Opposition Leader Peter Dutton.
Rinehart, Australia’s wealthiest individual, argued that the proposed increase—more than double the current defence allocation of 2.03 per cent of GDP—is necessary for national security.
“We are fortunate to live free from conflict on our own soil,” she said. “But I believe we must urgently strengthen our defences, beginning with securing our ports, airports, sea routes, and other key infrastructure. We must significantly expand our capabilities in smart sea mines, military drones, and defensive systems similar to Israel’s Iron Dome, while also increasing domestic defence manufacturing and raising our defence budget to 5 per cent of GDP.
“Five per cent—this is the direction Europe is heading. I have more to say on this topic in future.”
Her remarks came a day after Mr Dutton pledged to raise defence spending to 2.5 per cent of GDP.
Former U.S. President Donald Trump, whom Rinehart supports, has previously called on allies to commit 3 per cent of GDP to defence.
The event was also attended by senior political figures including Defence Minister Richard Marles, and former prime ministers Tony Abbott, Scott Morrison, and John Howard.
Ms Rinehart further reflected on the legacy of previous generations: “Much of our prosperity and opportunity—built by heroes of the past—is now threatened by the ambitions and actions of others in today’s world, which have become less distant to our shores and our way of life.”
She continued, “The sacrifices of the past gave us time, and through hard work, smart investment, calculated risk, practical thinking, reliable energy, vision, and our rich natural resources, Australia has grown into a thriving nation full of opportunity for all.”
