Aukus is among Australia’s worst foreign policy decisions and requires ‘heroic’ optimism, Gareth Evans says

The article is a political and defense-policy critique of Australia’s Aukus submarine pact, not a market-moving financial story. Former foreign minister Gareth Evans argues Aukus is among Australia’s worst foreign policy decisions, saying the $368 billion program is highly uncertain, overly dependent on US support, and likely to face major delivery and cost challenges. He questions the feasibility of receiving three Virginia-class submarines from 2032 and the joint UK-Australia SSN-Aukus build, citing industrial bottlenecks and budget stress in both the US and UK. The piece also notes the Australian government’s ongoing defense of the deal and its commitment to spend $4.5 billion over 10 years to support production. Market impact is limited, though the article underscores sustained fiscal pressure and strategic uncertainty around a major long-duration defense project.