Ex-minister launches crowd-funded probe into A$368bn Aukus submarine deal

On 2 June former minister Peter Garrett launched a five-month crowd-funded inquiry into the A$368bn Aukus submarine program, with public hearings and a final report due in October. The probe follows the 30 May Shangri-La announcement that Australia will acquire three second-hand US Virginia-class boats and develop Aukus uncrewed underwater vehicles to protect subsea cables. About 99% of Australia’s internet traffic travels through 15 cables, underscoring the strategic stakes. Markets now face added political uncertainty over costs, nuclear-waste storage and relations with China, raising near-term volatility for the Australia 200 index.