Sydney, Oct 1 (IANS/EFE): The Australian government confirmed Wednesday that there will be budget cuts to finance new anti-terrorism measures.

The country has already conceded more powers to its intelligence services and deployed planes in Iraq to join the international coalition against the Islamic State (IS) militants.

"There have been a number of initiatives already announced which are very important, such as increased funding for security; we need to identify the savings that help pay for those sorts of new initiatives," Australian Treasurer Joe Hockey told ABC channel.

He said that the budget cuts will be announced towards end the year end.

The government earmarked €433 million ($547 million) in August for the intelligence and security agencies, and estimated it would need another €344 million yearly to finance its operations in the Middle East.

Meanwhile, two Australian fuel-supply and surveillance planes have begun aid operations in Iraq, without participating in the bombings, Australian Prime Minister Tony Abbott announced Wednesday.

In September, Australia sent 600 soldiers, eight F/A-18 Super Hornet fighter planes and two other support aircraft to the UAE to support the international coalition against IS jihadis.