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Original estimate: 340 percent off? No.
The Collins program technically is not over budget, although it could be argued that the cost of overcoming its shortcomings represents additional expenditure that was not budgeted. How much of the rectification program is in this category is difficult to say, as some elements are for expansion of the boats' capabilities that would have been funded separately regardless of the fortunes of the program. ASC claims that a more accurate figure for cost overrun is 12 per cent: Lincoln Wright, 'Five years and $1 billion extra to fix subs', Canberra Times, 4 August 2000.
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