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Thursday, May 03, 2012

Labor launches $40 billion submarine project

[Collins class]The Gillard government has embarked on the nation's biggest-ever capital works project, announcing $214 million in funding for 12 next generation submarines to be built in South Australia.

The money will go towards early-stage design studies to avoid a repeat of the Collins Class debacle, in which just one or two of the nation's six submarines can be put to sea at any one time.

The long-awaited commitment to the $40 billion submarine project came as the government revealed it had found up to $3 billion in defence budget savings from delays in the Joint Strike Fighter project and the axing of plans to purchase new high-tech artillery pieces.

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