The Canadian government would need to double its military spending to meet the NATO target of spending 2 percent of GDP on defence, according to a new Parliamentary Budget Office (PBO) report.
The Oct. 30 report from Parliamentary Budget Officer Yves Giroux said Canada’s military spending would need to reach $81.9 billion by 2033, which is nearly double the projected $41 billion for 2025, to meet the target.
While NATO has long dictated that members must spend a minimum of 2 percent of their GDP on defence, Canada currently spends just 1.37 percent. Out of the 32 member countries in the alliance, 23 were estimated to have met the 2 percent requirement in 2024….