AUKUS nuclear submarine cost includes 50% fund for unexpected overruns

FILE PHOTO: Australia's Defence Minister Richard Marles attends a joint news conference with France's Foreign and Defence ministers at the Quai d'Orsay in Paris, France, January 30, 2023. REUTERS/Sarah Meyssonnier

Australia's defence minister said on Friday the government was being "upfront and transparent" about the cost of its AUKUS nuclear submarine programme, after an analysis showed the forecast A$368 billion cost included a 50% contingency fund.

The Greens party, which commissioned the analysis by the Parliamentary Budget Office, said it showed the "huge" uncertainty over the project.