Australian Defense White Paper cancels 25 F-35's!

Thanks to Ben for the link!

via Australian Defense.com

Some of the announcements include $30 billion being spent over the next ten years with the percentage of GDP expenditure on Defence to increase to 2 per cent by 2020-21. The government has committed to a continuous rolling acquisition program for 12 submarines and new previously unforeseen acquisitions and plans such as a review process to replace the last 25 F-35s planned for acquisition with a sixth generation fighter that will be an option in the late 2020s. A land-based cruise antiship missile capability for Army is also featured.

The plane costs too much and will arrive too late.  The scramble for the exits is on.