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Canada to Boost Defence Spending to 2% of GDP This Fiscal Year | News Channel 3-12
CANADA, JUN 9 – Canada plans a $9 billion military budget increase this fiscal year to strengthen sovereignty and reduce reliance on the U.S., aiming to meet NATO's 2% GDP spending target five years early.
- Prime Minister Mark Carney announced Canada will meet NATO's 2% GDP defence spending target by March next year, five years early, citing global instability and US dependence.
- Canada has not met the NATO 2% GDP defence target since 2014, with much of its defence spending historically directed to U.S. suppliers, highlighting reliance issues.
- On Monday, the Canadian government announced an extra C$9 billion to boost military spending, with only one of four submarines operational, highlighting capability gaps.
- Ahead of the NATO summit in the Netherlands, Canada's increased defence spending aims to enhance operational effectiveness and strategic autonomy.
- Beyond meeting NATO’s 2%, Canada plans to advocate for a 5% GDP defense spending target at The Hague summit, aiming for greater strategic autonomy.
77 Articles
77 Articles
Penticton Western News
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