Turnbull government knew submarines would cost $80bn but told public ‘greater than $50bn’, audit finds

The audit report said the cost advised to government for the submarine program in February 2016 was $78.18bn, or 56% higher than the minimum reported publicly. Photograph: Naval Group/AFP/Getty Images

The former Coalition government knew the now-dumped submarine project would likely cost about $80bn when it told the public the price tag would be “greater than $50bn”, an audit report has found.

In a new report tabled in parliament on Tuesday, the Australian National Audit Office found the 2016 defence investment plan “fell short of providing accurate, reliable and transparent information” to the public.