Mark Carney has pledged to significantly increase Canada's defense spending, aiming to hit NATO's 2% target five years earlier than planned. He emphasized the need to reduce Canada's reliance on U.S. defense capabilities, especially in the wake of emerging global threats. Carney noted the increasingly perilous geopolitical landscape, referencing Russia's invasion of Ukraine and concerns about China's assertiveness. As Canada prepares for the G7 summit, defense spending will be a significant agenda item, and there will be calls for further increases in military investment.
Mark Carney's announcement emphasizes the urgent need for Canada to enhance its defense capabilities and reduce reliance on the U.S., particularly in a changing global landscape.
Carney highlighted that Canada will meet NATO's 2% military expenditure target by this fiscal year, five years ahead of the previous schedule.
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