AUKUS Inquiry Labels $368B Sub Deal Worst Ever
Official projected total cost
$368 billion
Cost including nuclear waste management
~$548 billion
Nuclear waste management alone
~$180 billion
Paid to US and UK so far
$10 billion
Cities where public hearings were held
8
AUKUS projected cost breakdown (AUD)
"AUKUS is the worst, riskiest and most costly defence decision ever made by an Australian government.
"Peter Garrett - lead commissioner at the National Press Club (4 Nov 2026)
What the inquiry found vs government position
| Topic | Inquiry finding | Government position |
|---|---|---|
| Submarine delivery | "Next to no hope" of on-time delivery | Full-steam ahead |
| Nuclear waste site | No location publicly named | No comment |
| Sovereignty | Lacks enforceable obligations or refund clause | Secure agreement |
| Upfront payment | $10B paid with no binding return | Investment in partnership |
| Royal Commission | Calls for one into how the deal was made | Opposed |
What we know
The inquiry is independent and crowd-funded, not a parliamentary body. Its 17 recommendations are non-binding. Former ADF Chief Admiral Chris Barrie called the submarine plan "untenable." Former Foreign Minister Gareth Evans, testifying to the inquiry, said the deal "will likely prove one of the worst defence and foreign policy decisions the nation has made." Both major parties - Labor and the Liberal-National Coalition - support AUKUS; a Greens Senate motion for an official inquiry was voted down by both.
What is not yet known
A permanent site for Australia's share of nuclear waste has not been publicly named.
Whether the SSN-AUKUS submarines will be delivered on any schedule is unresolved, following the May 2026 removal of the first Virginia-class boat.
No date has been set for a government response to the inquiry's recommendations.
The inquiry calls for an Australian National Audit Office review; none has been ordered.
Sources: AUKUS Public Inquiry official report (aukuspublicinquiry.com); The Guardian (4 Nov 2026); The Point (4 Nov 2026); MediaNet/Newshub press release (4 Nov 2026); Yahoo News Australia; Press News Agency. Primary source is the inquiry report itself. Nuclear waste cost figure (~$180B) and total (~$548B) are the inquiry's estimates; the official government projection is $368B.