VICTORIA, British Columbia — The Canadian government has earmarked new funding to shore up the country’s defense industry and create new links with other nations to reduce its reliance on U.S. military equipment.
Prime Minister Mark Carney announced Monday that his government will provide $6.6 billion ($9 billion Canadian dollars) in new funding for the Department of National Defence over the next ten months. That money will allow Canada to reach by April 2026 the NATO goal of spending two percent of GDP.
By then Canada will be spending $45.7 billion (CA $62.7 billion) on defense and security. That figure includes spending by both the defense department and other federal departments on defense.
Of the new money, $3 billion (CA 4.1 billion) will go to strengthen the country’s domestic de