Live: Marles says Australia wanted three second-hand subs all along

Defence Minister Richard Marles says the new AUKUS deal that will see Australia buy three second-hand Virginia-class submarines from the US is what the government had wanted all along.

And later today, Australia will push for a new treaty with Solomon Islands as the Pacific nation's new prime minister, Matthew Wale, visits Canberra.

Treasurer Jim Chalmers has just weighed in on today's economic growth figures.

The national accounts showed the economy grew by 0.3 per cent in the March quarter, bringing the annual growth rate to 2.5 per cent.

He says the biggest takeaway is that "all of the growth in the March quarter came from the private sector".

"Economic growth was driven by strong growth in business investment, solid consumption and ongoing growth in dwelling investment," he said.

"New public final demand made almost no contribution to quarterly GDP growth.

"Annual growth in Australia is faster than almost every major advanced economy and above the OECD average."

I won't include Chalmers' full statement here, as he's holding a press conference in the next 20 minutes or so, and I expect he'll repeat much of the same then.