According the the US Department of State......"New Zealand has three defense policy objectives--defend New Zealand against low-level threats, contribute to regional security, and play a part in global security efforts. New Zealand has considered its own national defense needs to be modest. Its defense budget generally has provided for selected upgrades in equipment, most of which have been devoted to the army. Shortly after winning the 1999 election, the Labour government canceled a lease-to-buy agreement with the U.S. for 28 F-16 aircraft. In 2001, the government contracted to purchase 105 LAVIIIs for U.S. $300 million, with initial delivery in 2003. In 2002, it announced planned upgrades of its P3 and C-130 Hercules aircraft, and committed to spend U.S. $250 million to purchase a multi-role vessel and several offshore patrol vessels, and U.S. $100 million for two used Boeing 757s as replacement VIP jet transport aircraft.
In May 2001, the government announced it was scrapping its combat air force. New Zealand states it maintains a "credible minimum force," although critics maintain that the country's defense forces have fallen below this standard.
With a claimed area of direct strategic concern that extends from Australia to Southeast Asia to the South Pacific, New Zealand necessarily places substantial reliance on its defense relationship with other countries, in particular Australia. However, acknowledging the need to improve its defense capabilities, the government in 2005 allocated an additional NZ$4.6 billion (U.S. $3.19 billion) over 10 years to modernize the country’s defense equipment and infrastructure and increase its military personnel. The funding represented a 51% increase in defense spending since the Labour government took office in 1999."
So the question is.......... If you were the Minister of Defence for NZ, and the $4.6 billion was available to you today to rebuild NZ's defence forces ( Air, Army, Navy )what would you do?