BURST
OTTAWA — Even before it hits the 2014 NATO target of two per cent, Canada is committing to a new NATO target of boosting its defence and military spending to five per cent of its GDP — or $150 billion each year in total — within 10 years.
Following a two-day NATO summit in the Netherlands, Prime Minister Mark Carney confirmed Wednesday that the defence alliance of European countries, the U.S. and Canada agreed to significantly increase the sizes of their military and boost defence infrastructure spending within a decade.
The new target, which was the product of significant pressure by U.S. President Donald Trump, will be split in two portions: 3.5 per cent dedicated to military spending and 1.5 per cent on defence infrastructure investments.
During an interview with CNN Tuesday evening, Carney said the new target — should Canada ever hit it — means the government will eventually be spending roughly $150 billion per year on defence. “It’s a lot of money,” he acknowledged.
During a press conference Wednesday, Carney said that the target is designed to respond to current and growing threats from Russia and other hostile countries. But he said the target could be adjusted in years to come and the geopolitical situation evolves.
“We are protecting Canadians against new threats. I wish we didn’t have to… but we do have to and it is our core responsibility as government,” Carney said.
“The fact that we’re united, the fact the United States is fully behind this, the fact that we’re working together is going to reduce the threat environment 10 years from now,” he added.
Earlier this month, Carney promised that Canada would hit its 2014 NATO commitment of dedicating two per cent of its GDP to defence spending by the end of the 2025-2026 fiscal year.
More to come.
National Post
cnardi@postmedia.com
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