“The future is expensive” – managing cost-of-living while investing in security

How should government balance national preparedness with cost-of-living pressures? 

Can Australia strengthen fuel security, defence capability and supply chain resilience without undermining productivity and living standards? 

How do economic pressures, housing stress and inequality shape public trust – and what does that mean for national security? 

In this episode, Aruna Sathanapally, Richard Denniss and Michael Stutchbury join Rory Medcalf to examine the intersection of national security, economic pressure and social resilience. 

Dr Richard Denniss is co-Chief Executive Officer (CEO) at The Australia Institute. 

Dr Aruna Sathanapally is CEO at the Grattan Institute. 

Michael Stutchbury is Executive Director at The Centre for Independent Studies. 

Professor Rory Medcalf AM is Head of the ANU National Security College (NSC). His professional experience spans more than three decades across diplomacy, intelligence analysis, think tanks, journalism and academia. 

Note: this episode was recorded at NSC’s Securing our Future: a ready and resilient Australia conference on 24 March 2026. 

TRANSCRIPT 

Show notes:  

• NSC academic programs – find out more 
• Will this budget really make housing fairer for more Australians? It’s a good start, by Dr Aruna Sathanapally and Matthew Bowes 
• Full panel discussion (with Q&A) 

We'd love to hear from you! Send in your questions, comments, and suggestions to NatSecPod@anu.edu.au. You can tweet us @NSC_ANU and be sure to subscribe so you don’t miss out on future episodes. 

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