Canada has fallen so short of its NATO commitment to devote 2 per cent of annual economic output to military spending that it would cost $75-billion over the next half-decade to catch up, a new report by a parliamentary budget watchdog says.
The North Atlantic Treaty Organization is a military alliance dedicated to the collective defence of its 30 members, including Canada. In 2006, NATO defence ministers agreed to commit a minimum of 2 per cent of their gross domestic product to defence spending to ensure the alliance’s readiness. In 2014, they renewed that commitment.
Parliamentary Budget Officer Yves Giroux says there’s no chance Canada will meet its NATO goal over the next five years with the government’s current level of military spending.
