Canadian Prime Minister Carney announced the beginning of the "new defense era" with defense spending surging to 2% of GDP!
Canadian Prime Minister Carney announced today that Canada will increase its defense spending from the current approximately 1.4% of GDP to NATO's set target - 2% of GDP within this year. This is the first time Canada has met the target since NATO established the goal in 2006.
This move is generally seen as a response to growing pressure from NATO allies. Previously, Canada had promised to achieve the target by 2030, but this time it will complete the task five years ahead of schedule.
Carney stated that this move is "to ensure that Canadian armed forces remain strong," while emphasizing that the new defense strategy will adhere to the principle of "every dollar being a reasonable investment," prioritizing support for domestic manufacturing and supply chains, reducing reliance on foreign countries, especially the United States - currently about three-quarters of defense procurement each year flows to the U.S.
According to the new strategy, the Canadian military will massively acquire drones, armored vehicles, aircraft, and underwater detectors to enhance surveillance capabilities in the Arctic region. Military salaries will also be raised, and the Canadian Coast Guard will be incorporated into unified management under the Ministry of National Defense in the future.
According to NATO's annual report released in April 2024, Canada's military expenditure accounted for only 1.45% of GDP last year. Federal budget data shows that Canada's defense spending will reach CAD 44.2 billion in the 2025-26 fiscal year, setting a record high since the Cold War.
Original source: https://www.toutiao.com/article/1834494892991500/
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