Canada defense spending push lacks budget details amid NATO targets
The segment covers Ottawa's push to boost military spending to meet NATO goals, with companies like Airbus positioning for contracts emphasizing Canadian production. It highlights Liberal pledges under PM Mark Carney for higher targets but notes the absence of specific figures in Budget 2025 or the spring economic statement. The Finance Minister's office declined to provide annual spending details ahead of announcements. Global News calculates that hitting 4% of GDP by 2030 would require over $156 billion annually, a sharp rise potentially necessitating tax increases. The Parliamentary Budget Officer has made multiple unanswered requests for details, and a former PBO called the lack of transparency a failure. Carney is expected to decide soon on new submarines from South Korea or a German-Norwegian group ahead of a NATO summit.
Source: Global News
