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Defence 2014-15 Budget Phillip Prior Chief Finance Officer

Defence 2014-15 Budget Phillip Prior Chief Finance Officer. Defence 2014-15 Budget. Summary of the Defence 2014-15 Budget $32.7 billion in total for 2014-15. $29.2 billion for Departmental. $3.4 billion for Administered. $30.7 billion in total for 2013-14. $27.0 billion for Departmental.

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Defence 2014-15 Budget Phillip Prior Chief Finance Officer

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  1. Defence 2014-15 BudgetPhillip PriorChief Finance Officer

  2. Defence 2014-15 Budget Summary of the Defence 2014-15 Budget • $32.7 billion in total for 2014-15. • $29.2 billion for Departmental. • $3.4 billion for Administered. • $30.7 billion in total for 2013-14. • $27.0 billion for Departmental. • $3.7 billion for Administered.

  3. Defence 2014-15 Budget Summary of the Defence 2014-15 Budget (cont’d) Defence Budget Over the 2014-15 Forward Estimates

  4. Defence 2014-15 Budget Summary of the Defence 2014-15 Budget (cont’d) Defence Budget as a % of GDP

  5. Defence 2014-15 Budget

  6. Defence 2014-15 Budget

  7. Defence 2014-15 Budget Defence 2014-15 Budget Measures – Departmental & Administered

  8. Defence 2014-15 Budget Operations Middle East Area of Operations (MEAO) • Operation SLIPPER (Afghanistan). • Operation MANITOU (MEAO). • Operation ACCORDION (Gulf, Qatar, UAE)

  9. Defence 2014-15 Budget Operations (cont’d) Operation RESOLUTE – Extension Operation SOUTHERN INDIAN OCEAN

  10. Defence 2014-15 Budget Operations (cont’d) ADF Support to the G20 Summit (Defence to absorb)

  11. Defence 2014-15 Budget Election Commitments Reinstatement of the ADF Gap Year Programme • Includes an additional 1,033 Average Funded Strength (mature state) for staff and participants.

  12. Election Commitments (cont’d) Defence 2014-15 Budget • Efficiency Dividend • Efficiency dividend increase by 0.25% to 2.5% (11% of the Budget).

  13. Defence 2014-15 Budget Other Budget Measures Summary of Budget Measures for Reinvestment

  14. Defence 2014-15 Budget Other Budget Measures (cont’d) Total Reinvestment (Government to finalise)

  15. Defence 2014-15 Budget Other Budget Measures (cont’d) Savings and Efficiencies for Reinvestment

  16. Defence 2014-15 Budget • Other Budget Measures (cont’d) • New Military Superannuation Scheme • MSBS closed and a new superannuation scheme for new members from 1 July 2016. • Employer contributions will be 15.4% and 18% for periods of war-like service. • Death and disability will be the same

  17. Defence 2014-15 Budget Other Budget Measures (cont’d) US Force Posture Initiative • The cost will be met from within the existing Defence budget and are still under negotiation.

  18. Defence 2014-15 Budget Other Budget Variations Foreign Exchange • Foreign Exchange is provided to Defence on a no-win, no-loss basis.

  19. Defence 2014-15 Budget Election Commitments - Administered Fair indexation of Defence Superannuation • From 1 July 2014, DFRB and DFRDB improved indexation arrangements.

  20. Defence 2014-15 Budget Growing the Defence Budget to 2% of GDP Within a Decade • The Government remains committed to growing the Defence budget to 2% of GDP within a decade.

  21. Defence 2014-15 Budget Questions?

  22. Defence 2014-15 Budget Other Budget Measures (cont’d) Major Savings

  23. Defence 2014-15 Budget Other Budget Measures (cont’d) Minor Savings

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