The Australian government is tipping $1 billion into developing its own guided-missile production industry in the face of a worsening strategic environment. The Morrison government will be partnering with a global arms manufacturer to establish a new facility, estimated to generate $40 billion in local production and export sales over the next 20 years. The local facility will also give Australia a homegrown ability to manufacture armaments rather than importing them from overseas. “As the COVID-19 pandemic has shown, having the ability for self-reliance, be it vaccine development or the defence of Australia, is vital to meeting our own requirements in a changing global environment,” Prime Minister Scott Morrison said. “It’s an imperative we now proceed with the creation of a sovereign guided weapons capability as a priority, accelerating this process following the idea first being explored in the force structure plan.” Federal Opposition Leader Anthony Albanese has backed the …