The Australian Strategic Policy Institute (ASPI) think tank unveiled its annual Cost of Defence dossier today, indicating that the critical funding boosts needed for the ADF are being delayed.

“Defence funding [needs] to be increased to reflect the reality of the threats facing Australia,” the report states.

Prime Minister Anthony Albanese defended his government’s approach to defence spending, labelling the criticism from ASPI as “predictable”.

“Seriously, they need to have a look at themselves as well and the way that they conduct themselves in debates,” he told ABC radio this morning.

“We’ve had a defence strategic review.

“We’re making significant additional investments in defence – totaling $10 billion. This increases our defence spending to 2.4 percent of GDP. We are investing in assets and strengthening our capabilities.”

The report also noted the added global uncertainty that US President Donald Trump has caused since his return to the White House.

“Great powers flout the international rules-based system, either seeking to expand their spheres of influence, as Russia and China are doing, or pursuing a transactional and user-pays form of vassalage in the case of the US under the Trump administration,” ASPI executive director Justin Bassi wrote.

“To be clear: the actions of the US are not comparable to those of Russia and China, but the administration’s tendency to treat all countries the same, without separating friend from foe, is causing unhelpful disruption and adding to global uncertainty.”