‘Canada plans to hit NATO spending target early’

Toronto: Canada will meet NATO’s military spending guideline by early next year and diversify defence spending away from the United States, Prime Minister Mark Carney said Monday.

Carney said Canada will achieve NATO’s spending target of 2 per cent of gross domestic product five years earlier than it had previously planned.

“Our military infrastructure and equipment have aged, hindering our military preparedness,” Carney said. “Only one of our four submarines is seaworthy. Less than half of our maritime fleet and land vehicles are operational. More broadly we are too reliant on the United States.”

According to NATO figures, Canada was estimated to be spending 1.33 per cent of GDP on its military budget in 2023, below the 2 per cent target that NATO countries have set for themselves. Canada previously said it was on track to meet NATO’s spending target by the end of

the decade.