I won't bother posting any links to media reports about the Australian governments recent announcement regarding its submarine policy and related purchase agreements, so as to not taint the discussion with one media slant vs another.
My view - I with Paul Keating on this and think that this is a really bad decision on any number of fronts.
The costs are huge. I know we are talking decades away, but that just means we are only really guessing what the actual costs will be. As well as somehow finding the money for this, it likely means that funding for other things is likely to be detrimentally impacted (e.g. social housing, health, education, environment, etc.)
Do we actually need submarines? Most dialogue is around the "threat" from China, but I can't really think of any reason why China would engage in a war with Australia, or with our closest neighbours. I've seen reports that suggest China probably won't even push to take over Taiwan, given the perceived global effects of doing that.
As we wait decades for the submarines to be built and delivered, we are apparently to host US nuclear submarines as a stop-gap measure. I'm pretty sure that is against our nuclear-free Pacific treaty obligations and, if you believe China would be aggressive in the future, make us a nuclear target.
We will apparently need to deal with nuclear waste in the future.
FWIW the wikipedia page on the Collins class subs is well worth a read:
https://en.wikipedia.org/wiki/Collins-class_submarine
Whats scary is that they too were a completely untested design, that had massive delays, massive cost over runs and constant issues that led to repeated calls to literally turn them into scrap so bad was it at one point - but even allowing for present monetary valuation of their costs - they were a tiny cost compared to this purchase which might go down as the worst financial decision in the history of Australia.
Here's a gem from it - and I think it's safe to say that we all could only wish to be so lucky as to work for an employer where you can get it SO WRONG - as the expert panel for our Govt did back in 2009 when they came to the following finding in their thoughts on what we should do to replace the aging and underwhelming Collins class fleet:
Only working for our Govt could a bunch of experts take many months, no doubt hundreds of thousands of dollars and come up with a finding that even allowing for time is well under one tenth of the estimated cost now. Just goes to show how crazy a quantum leap to buy this small handful of subs is. Yikes!