The Liberal government’s 2025 budget is proposing to provide more than $81 billion over five years to build up the Canadian Armed Forces (CAF), as Canada works toward meeting NATO’s defence spending target of 5 percent of GDP by 2035.
Prime Minister Mark Carney’s first budget, tabled on Nov. 4, proposes to provide $81.8 billion starting this fiscal year to “rebuild, rearm, and reinvest” in the CAF, including more than $9 billion that was announced by Carney in June. Carney had said at a June 9 press conference that this increased military spending would help meet NATO’s spending target of 2 percent of GDP this fiscal year.
