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Prime Minister Mark Carney pledged over $9 billion in new defence funding, accelerating Canada’s timeline to meet NATO’s 2% GDP goal by 2026. Spending includes military pay raises, cyber defences, recruitment, and equipment upgrades. Carney also plans to reduce reliance on U.S. suppliers and strengthen Canada’s defence industry and Arctic capabilities.
To fund a historic increase in defence spending, Prime Minister Carney’s government is demanding federal departments find up to 15% in savings by 2028. However, National Defence faces only a 2% cut, exempting equipment and key budgets. Canada aims to hit NATO’s 5% GDP target by 2035, amid union concerns.