The Australian Government doesn’t allocate spending to health or education as a proportion of GDP. Why should defence be any different?

On this episode of Dollars & Sense, Matt and Elinor discuss the Prime Minister’s China trip, why spending more on defence doesn’t necessarily make us safer, and the unusual situation whereby our biggest bank thinks we should tax wealth better.

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Dead Centre: How political pragmatism is killing us by Richard Denniss is available for pre-order now via the Australia Institute website.

This discussion was recorded on Thursday 17 July 2025.

Host: Matt Grudnoff, Senior Economist, the Australia Institute // @mattgrudnoff

Host: Elinor Johnston-Leek, Senior Content Producer, the Australia Institute // @elinorjohnstonleek

Show notes:

Australia already spends a huge amount on defence by Matt Grudnoff, the Australia Institute (April 2025)

Wealth and inequality in Australia by David Richardson and Frank Stilwell, the Australia Institute (August 2024)

Theme music: Blue Dot Sessions

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