# AUKUS: The $368 billion submarine mirage

Page: https://stenobird.com/podcast/new-politics-australian-politics-news-analysis-commentary-711789/aukus-the-368-billion-submarine-mirage
Text version: https://stenobird.com/podcast/new-politics-australian-politics-news-analysis-commentary-711789/aukus-the-368-billion-submarine-mirage.md
Podcast: [New Politics: Australian Politics, News, Analysis & Commentary](https://stenobird.com/podcast/new-politics-australian-politics-news-analysis-commentary-711789)
Published: 2026-06-04T21:00:02+00:00
Episode link: https://www.spreaker.com/episode/aukus-the-368-billion-submarine-mirage--72341528
Audio file: https://dts.podtrac.com/redirect.mp3/api.spreaker.com/download/episode/72341528/np260605_mixdown.mp3
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JSON: https://stenobird.com/v1/public/podcasts/new-politics-australian-politics-news-analysis-commentary-711789/episodes/aukus-the-368-billion-submarine-mirage
Duration seconds: 1559

## Resource

AUKUS was sold as a transformational defence agreement that would deliver a fleet of nuclear-powered submarines and strengthen Australia's security for decades to come. Nearly five years later, the promised new submarines have become second-hand Virginia-class vessels from the United States, raising fresh questions about a program expected to cost up to $368 billion. As former Labor minister Peter Garrett launches an independent review of AUKUS, we examine the escalating costs, shifting promises, lack of parliamentary scrutiny, growing dependence on the United States and Britain, and whether Australia is sacrificing sovereignty and assuming enormous financial risk for a defence strategy that remains increasingly uncertain. #AUKUS #Auspol #DefencePolicy #NuclearSubmarines #NationalSecurity #NewPoliticsPodcast Subscribe to New Politics for weekly briefings and full analysis: www.newpolitics.com.au Support New Politics: Patreon: https://www.patreon.com/newpolitics Substack: https://newpolitics.substack.com Song listing: ‘La Femme d’Argent’, AIR.

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## Transcript

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