“Chinese war ships engaging in live fire in the Tasman Sea ought to be a wake-up call for our investment priorities,” says ACT Defence spokesperson Mark Cameron.

“We have been taking the so-called benign strategic environment for granted, but the rule of history is that big fish eat the little fish. New Zealand needs to wake up, get together with its mates, and up our defensive capability – fast.

“Lifting investment in Defence is a matter of security, but also of prosperity. Our fisheries, sea mining, trade routes, and Exclusive Economic Zone hold untold economic value, and any serious strategy to grow the economy will rely on our continued control of these assets.

“Prior to the election, ACT campaigned on increasing defence spending to 1.5% of GDP, or $4.35 billion over four years, with a long-term target of reaching 2% by 2030.

“Australia’s defence spending has already surged above 2%, heading to 2.4% by the end of the decade. We need to do our part and work with our friends to effectively direct our investment, so that we can be taken seriously as an ally worth defending.

“Crucially, ACT is open to debate around tough trade-offs in spending and investment to make a Defence boost possible.

“This morning, the New Zealand Initiative released a report valuing the government’s existing assets at $571 billion. It raises some interesting questions. Does it make more sense for the government to own a television station, or a P8 Poseidon? Should we keep a 51% share in a power company, or get our hands on some more frigates?

“ACT would argue it’s time to pull money out of the nice-to-haves, and invest in the men and women who protect our livelihoods.”

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