"The SRP is designed to give Australia a stronger, more agile and harder hitting Defence Force.
"After endorsing the detailed implementation plan, the Government is confident that Defence is well placed to achieve fundamental reform," Senator Faulkner said.
"The SRP is a major public sector reform initiative.
"The SRP extends over a decade and engages all areas of Defence.
"It will change how Defence works in fundamental ways.
"It will unleash forces of innovation and change.
"It will achieve $20 billion in cost reductions over a decade from 2009-10, to reinvest in Defence capability."
Defence is already on track to deliver the $797 million in cost reductions scheduled for 2009-10.
Addressing the Defence Senior Leadership Group in Canberra last Wednesday, Senator Faulkner said, "the SRP is not just about delivering savings and efficiencies.
"It is an integral component of the White Paper.
"It is the means by which we will build an organisation capable of delivering and sustaining Force 2030.
"To be blunt, while we have already started to build Force 2030 through decisions over the past year, achieving it in its full potential will not be possible without achieving the SRP in all its dimensions."
Senator Faulkner called on Defence's leaders to take what is best in Defence into the future.
"Reform will not be easy.
"We have the opportunity and responsibility to make the SRP a reality.
"In doing so, we will create the Defence organisation Australia needs to help secure its future."
Given that the budget is due to be released in less than a month, stay tuned to both Defence Week and ADM for more detail on how the forward financial planning for Defence will look into the future.