How will Australia pay for its $386 billion nuclear sub deal?

The Chinese regime obviously recognises this, and their military is being fuelled by increasing the conventional energy generation in the country.

China is mostly a green-and brownfield-area for electricity development. If renewables were really cheaper, then that is what they would be building, rather than a coal-fired power station every week, augmented with nuclear.

One thing the AUKUS subs do bring to the table is normalising nuclear power generation in Australia.

They will be generating electricity to meet the industrial and living needs of Australians, albeit submariners, and they will be stationed or will visit all of Australia capital cities as well as other major ports.

One technology that is cheap and green, and which can lift productivity, at least over the baseline being created by renewables is nuclear energy, and these subs could be a catalyst towards seeing its adoption.

The government also needs to cut the number of regulations and the opportunities for lawfare that get in the way of major projects, particularly mining and agriculture-two industries where Australia has world-leading industries.

Lastly, but with the least likelihood of being achieved, they need to reform labour laws.

Since 2007, we have been gradually moving our industrial relations back to the 60s, when productivity was low and distrust between workers and bosses high.

Unfortunately, they are moving further in the opposite direction, with independent contractors the latest target for restrictive employment practices.

In the last two years, war has reshaped the psychology in a number of European countries, where some of the measures I have suggested are being adopted.

The potential reality of war has driven this submarine purchase, and hopefully that denotes a broader willingness to change here.

Even if it doesn't, the budget problems an enhanced defence capability raise may force the issue, to the benefit of all.

This insurance premium is worth paying for an array of reasons.