What is it, and why does AUKUS matter?

The Albanese government will pitch AUKUS as a generational transformation for Australian industry and deliver advanced technology capability. What else does it mean?

Royal Australian Navy Collins Class submarine HMAS Rankin. Australia, the United States and the United Kingdom new strategic defence partnership - known as AUKUS - will include a replacement for the Collins class submarines. (Photo by POIS Yuri Ramsey/Australian Defence Force via Getty Images)