As already explained, we are a long standing member of the NPT regime. We would be very silly if we withdrew, we would be amongst the Israelis and DPRK's of the world, Bobby. Are you prepared to weather the diplamtic storm we would have to edure?
Israel does allow the IAEA to inspect it's nuclear reactor. It has done so for the last 10 or so years, Bobby.
The Government is already purchasing SAMs, Anti-ship missiles, AAMs and ATGWs. Our market is too small to try and manufacture them ourselves. Same for tanks, MICVs and most ships.
Conscription without an existential threat facing us is a no-goer, for the already described reasons, Bobby.
Now, where are you going to put all these troops? We need more than just the preliminaries... Tsk, tsk, tsk...