'No chance' $20bn submarine wish list will be passed by Government

A defence wish list for a $20 billion submarine fleet has virtually no chance of making it past the Government's razor gang.

Defence wants to buy 12 new submarines when the current fleet of six Collins boats retires after 2020.

That would value the new vessels at about $2 billion each and make them the most expensive conventional submarines in history.

However, sources have told the Herald Sun the global financial crisis and a lack of crew numbers for the current fleet means the plan will run aground.

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