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# AUKUS Inquiry Labels $368B Sub Deal Worst Ever

- [Made in Slatesource](https://slatesource.com/@steph/aukus-inquiry-labels-368b-sub-deal-worst-ever)
- By [Steph](https://slatesource.com/@steph)
- Created on Nov 4, 2026

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

[aukuspublicinquiry.com](https://aukuspublicinquiry.com/?utm_source=slatesource)

## AUKUS projected cost breakdown (AUD)

[aukuspublicinquiry.com](https://aukuspublicinquiry.com/?utm_source=slatesource)

> AUKUS is the worst, riskiest and most costly defence decision ever made by an Australian government.
>
> — thepoint.com.au

## 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

[theguardian.com](https://www.theguardian.com/australia-news/2026/nov/04/aukus-worst-australian-defence-decision-ever-public-inquiry?utm_source=slatesource)

AUKUS: how we got here and what happens next01.09.2021 – 04.11.2026

01.09.2021AUKUS announced by Morrison, Biden and Johnson - Australia to acquire nuclear-powered submarines

01.09.2021

01.03.2023Optimal Pathway revealed: Virginia-class subs to be purchased from US, then SSN-AUKUS class

01.03.2023

01.05.2026Deal revised: sole newly-built Virginia-class submarine removed, citing US production constraints

01.05.2026

02.06.2026Independent public inquiry launches, led by Peter Garrett, with 5 commissioners and crowd-funded at $220,000

02.06.2026

01.10.202610 full-day public hearings completed across 8 Australian cities

01.10.2026

04.11.2026Final report "Surrendering Australia: the AUKUS Deception" released at National Press Club

04.11.2026

Government has not indicated any formal response or review

[newshub.medianet.com.au](https://newshub.medianet.com.au/2026/11/aukus-pillar-1-should-be-immediately-scrapped-australia-deserves-a-royal-commission-into-the-aukus-deception/180129/?utm_source=slatesource)

## 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.