Introduction
Canadian Prime Minister Mark Carney is set to announce a significant new security and defence investment plan aimed at helping Canada reach NATO's military spending target.Context
According to the Globe and Mail, the initiative will enable Canada to meet NATO's goal of 2% of GDP for military spending in the fiscal year ending next March, with provisions to exceed this target in subsequent years. Currently, only 22 out of 32 NATO members achieve this target, with Canada projected to rank near the bottom for defence spending in 2024.Developments
The comprehensive plan will include various enhancements, such as:- Increased pay for members of the Canadian Armed Forces
- Acquisition of new aircraft and armed vehicles
- Procurement of additional ammunition
- Expansion of drone capabilities
- Installation of more sensors for monitoring the sea floor and Arctic regions
The announcement is anticipated shortly before the NATO leaders' summit scheduled for June 24-25. Moreover, NATO chief Mark Rutte has suggested that alliance members should aim to increase defence spending to 3.5% of GDP, alongside an additional 1.5% for broader security-related expenditures, aligning with U.S. President Donald Trump's request for a 5% target.