Search This Blog
money saving tips for canadians, best saving tips for canadians of all ages. MoneySavings and Canadian news, financial news
Featured
article
- Get link
- X
- Other Apps
Canada to Meet NATO’s 2% Defence Spending Target Ahead of Schedule
Prime Minister Mark Carney is set to announce that Canada will meet NATO’s defence spending benchmark of 2% of GDP by the end of the current fiscal year. This marks a significant shift from previous projections, which had set the target for 2032.
Carney’s announcement, expected in Toronto today, will outline a new defence industrial strategy aimed at strengthening Canada’s military capabilities through homegrown production. The plan includes acquiring more drones, armoured vehicles, aircraft, and underwater sensors, with a particular focus on Arctic surveillance.
Additionally, military personnel are expected to receive a pay raise, fulfilling a promise made during the last election campaign. Another major change will see the Canadian Coast Guard fully integrated into the Department of National Defence, a move that aligns Canada with other NATO allies.
This announcement comes ahead of the NATO leaders’ summit in The Hague, where discussions on increasing defence spending beyond 2% are expected to take place. Canada has faced criticism in the past for failing to meet NATO’s spending target, but this new commitment signals a shift in priorities under Carney’s leadership.
The defence spending increase is expected to exceed billions of dollars, ensuring Canada not only meets but potentially surpasses NATO’s current benchmark in the coming years.
Carney’s speech today will provide further details on the timeline and implementation of this ambitious plan, setting the stage for Canada’s enhanced role in global security.
Popular Posts
Trump's Six Words: "I'm Going to Stop the Wars"
- Get link
- X
- Other Apps
Fiscal Challenges Ahead: U.S. Bonds Face Uncertainty Under Trump’s New Term
- Get link
- X
- Other Apps
Comments
Post a Comment