Canada's Defense Spending: A Fiscal Roadmap Needed
Vancouver News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Canadas defense spending is set to skyrocket, reaching 150 billion dollars annually by 2035, according to a CD Howe Institute report. This ambitious goal, part of NATOs five percent GDP defense spending target, would require a significant overhaul of the federal budget. However, Prime Minister Mark Carneys recent budget lacks a long-term fiscal roadmap for this increase. Experts like Colin Busby from the institute are calling for practical solutions, such as a small GST bump and slowing growth in other spending areas, to keep the budget balanced. Other NATO countries are also grappling with this challenge amid their own budget constraints.
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