Note: Numbers may not sum due to rounding. ‘Change’ refers to the total change between 2022-23 to 2032-33. Defence expenditure from 2025-26 is based on the growth in long-term funding commitments made in the 2020 Defence Strategic Update. The base is expenditure for Defence in the most recent Portfolio Budget Statements. For 2030-31, 2031-32, and 2032-33, the PBO has assumed growth in defence spending would be maintained at the annualised average growth rate from 2020-21 to 2029-30.