Carney stated that his party plans to invest CAD 30.9 billion in defence over the coming years. The goal is to reach 2% of GDP in defence spending by 2030, two years earlier than previously planned.
In 2024, Canada’s defence spending stood at just 1.37% of GDP, placing it below NATO targets. The planned increase aims to close this gap and address growing global security challenges.
A significant portion of the additional funds will be directed toward strengthening Canada’s northern borders to deter rising Chinese influence. Key investments will also go to military equipment, including submarines, icebreakers, and unmanned sea and air systems.
According to Carney, the spending will be rolled out in three phases. The first will focus on boosting armed forces recruitment and expanding necessary infrastructure.
The second phase will cover the procurement of new military assets, such as self-propelled howitzers, air defence systems, and early warning systems. The final phase will support the development of advanced technologies, including quantum computing and artificial intelligence.
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