Coalition’s $90b French subs are Australia’s worst ever pork-barrel

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In 2016, the Turnbull Government bizarrely announced that France’s Naval Group had won the $50 billion bid to build 12 extremely large submarines in Adelaide.

It was later revealed that the decision was arrived at to pork barrel the seat of former Defence Minister Christopher Pyne by ‘creating’ 3,000 jobs.

Since then, the project has descended into farce with the cost blowing-out to $90 billion and concerns rising over whether France’s Naval Group has the ability to even complete the project.

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.