Prime Minister Mark Carney announced that Canada is set to significantly increase its defense spending in response to new NATO requirements. At a recent NATO summit, leaders agreed to raise the defense spending target from two percent of GDP to five percent by 2035. Carney emphasized that this increase is crucial for Canada to enhance its security and contribute to global stability.
Carney acknowledged that achieving this spending goal—estimated to be around $150 billion—will require a strong political and social mandate from Canadians. He stated that while the government will need to consider potential trade-offs in other areas, such as healthcare funding, the investments in defense are essential to address evolving threats, particularly in the Arctic region.
The Prime Minister highlighted that Canada has faced pivotal moments in its history, urging that this is another such moment. He stressed the importance of aligning Canada’s actions with its values of democracy and freedom. He believes that a stronger Canada will lead to a more secure world.
Despite concerns about the potential sacrifices required to meet the new spending target, Carney reassured Canadians that the defense investments would not come at the cost of essential services. He claimed these expenditures would be "net additive," meaning they could stimulate job creation and economic growth alongside improving national security.
As Canada prepares to meet this ambitious target, Carney noted that the government will work closely with international partners, including the European Union and the United Kingdom, to develop critical mineral resources to support defense initiatives. He expressed confidence that with careful planning and collaboration, Canada can successfully navigate the challenges ahead.
The Prime Minister’s remarks come at a time when NATO member countries are under pressure to bolster their military capabilities in light of increasing global tensions. While some nations have already committed to the five percent target, others remain hesitant. Carney’s commitment reflects Canada’s determination to play a more prominent role in international defense efforts as the world faces new security challenges.