Canada to Hit NATO 2% Defence Spending Target This Year, Carney Announces
Prime Minister Mark Carney has pledged to boost Canada’s defence spending to meet NATO’s 2% GDP target this fiscal year, five years ahead of schedule, to reduce reliance on the U.S. amid growing global threats. Speaking at the University of Toronto, Carney highlighted Canada’s vulnerabilities, particularly in the Arctic, and criticized the U.S. for “monetizing its hegemony.”
The $9.3 billion increase, announced ahead of the G7 summit in Kananaskis, Alberta, will prioritize domestic manufacturing and include new submarines, aircraft, and Arctic surveillance, though questions remain about funding and procurement challenges.
