Morrison spending $270 billion to prepare for "dangerous and disorderly world".
Australia is spending $270 billion over the next decade to make sure the defence force is able to deter threats and respond with credible military force.
Prime Minister Scott Morrison also wants the Australian Defence Force to focus its efforts on the Indo-Pacific and Australia's immediate region.
He will release the 2020 Defence Strategic Update and the new Force Structure Plan with a speech in Canberra today.
Australia to acquire long-range missiles as PM warns of dangerous post-Covid-19 world https://t.co/lwCPajvw2W— Guardian Australia (@GuardianAus) June 30, 2020
"The simple truth is this: even as we stare down the COVID pandemic at home, we need to also prepare for a post-COVID world that is poorer, more dangerous and more disorderly," Mr Morrison will say, according to a draft of his speech.
Tensions are rising in the region - underscored by recent border skirmishes between China and India - and the trends identified in the 2016 Defence white paper have only accelerated.
Ten Vic postcodes going into lockdown.
Dozens of Melbourne suburbs are going back into lockdown and international flights will be diverted for two weeks in an effort to contain the state's latest coronavirus outbreak.
Victoria recorded 64 new cases of COVID-19 on Tuesday, capping a fortnight of consecutive double-digit increases.
The majority of new cases have been due to community transmission, prompting the Premier Daniel Andrews to reintroduce stay-at-home orders for 10 postcodes from Thursday until at least July 29.