Canada pledges to meet Nato's 2% defence spending target within a year
Summary
Canada plans to increase its defense spending to meet a NATO target of 2% of GDP by March next year. This move follows Prime Minister Mark Carney's announcement to strengthen the military with new submarines, aircraft, and ships, in response to global security threats. Canada intends to reduce its reliance on the United States for defense and improve its domestic military industry.Key Facts
- Canada will raise defense spending to 2% of GDP by March next year, earlier than previous goals.
- New investments will include submarines, aircraft, ships, armoured vehicles, and drones.
- Prime Minister Mark Carney emphasized reducing reliance on the U.S. for defense.
- Domestic defense industry strengthening is a part of the new strategy.
- A new agency will be created for faster defense equipment procurement.
- The defense budget for this fiscal year will see an increase of C$9.3 billion.
- In 2024, Canada spent 1.4% of its GDP on defense.
- Carney mentioned threats from aggressive countries and Arctic security concerns as reasons for the increase.
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