Canada must double its annual navy spending with a purpose to meet its NATO necessities, new Parliamentary Funds Officer (PBO) projections present.
After dealing with months of stress from allies, the prime minister introduced on the NATO Summit that Canada will meet its dedication of two per cent of its GDP by 2032.
The PBO estimates that will require spending not less than $81.9 billion {dollars} per yr on navy infrastructure and employees.
In keeping with figures by the Division of Nationwide Defence, navy expenditures are forecast to rise to $41 billion for 2024-2025. The federal government’s defence coverage, Our North Robust and Free (ONSAF), which was launched within the spring, solely forecasts spending to achieve $57.8 billion by 2029-30, which quantities to 1.76 per cent of GDP.
Extra particulars to come back.
