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Tuesday, February 26, 2008

$23bn defence contracts at risk

Defence Minister Joel Fitzgibbon said $23 billion worth of defence projects approved by the Howard Government were at medium to high risk of failing.

Billions of dollars of failing defence projects signed off on by the previous Government may have to be dumped at an enormous cost to taxpayers, Mr Fitzgibbon said last night.

Last week, he announced senior bureaucrat Michael Pezzullo will write a new White Paper on defence, due for completion by the end of this year.

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