How is it paid for? - borrowed money? - printed money?
https://www.abc.net.au/news/2024-10-22/australia-us-medium-long-range-missiles-d...Australian government reveals $7b plan for purchase of American missiles for navy
By North America bureau chief Jade Macmillan in Washington DC
Topic:Navy
8h ago

Minister Pat Conroy said the missiles would give Australia extended-range air defence capability.
he federal government will spend $7 billion acquiring medium and long-range missiles for the Australian Navy from the United States.
Defence Industry Minister Pat Conroy said the Standard Missile 2 Block IIIC (SM-2 IIIC) and Standard Missile‑6 (SM-6) were the "most advanced air defence missiles in the world".
"We live in the greatest arms race in our region since 1945, with a high degree of strategic uncertainty," Mr Conroy said during a visit to Washington DC.
"You just have to look at the lessons from the Ukraine conflict to understand the importance of air defence and the ability to defend against missile threats."
The purchase of the missiles had been anticipated for several years, with Australia becoming the first country outside the US to fire an SM-6 during an exercise near Hawaii in August.
Mr Conroy said US congressional approvals had been granted, meaning the sale could proceed and the price tag revealed.
However, he would not provide any detail on when the missiles would be delivered, other than to say they would be "progressively deployed" across the Navy's Hobart-class destroyers.
Standard Missile 2 Block IIIC (SM-2 IIIC):
Medium-range surface-to-air missile with an active radio frequency seeker
Range of 166km
Manufactured by US weapons producer RTX, formerly known as Raytheon
Standard Missile‑6 (SM-6):
Primarily developed as an extended-range air-defence missile, but can also protect against ballistic missiles or hit a surface target
Range of 370km
Manufactured by RTX
They'll also be deployed in the future Hunter-class frigates, which are due to enter service from the early 2030s.
Defence's chief of guided weapons and explosive ordnance, Air Marshal Leon Phillips,
said the $7 billion spend was part of a
near $30 billion allocation for international "off the shelf" acquisitions.