Why turning Canada's new defence spending into economic growth may be ‘easier said than done’
Prime Minister Mark Carney on Monday unveiled a new Canadian defence industrial strategy, pledging to meet NATO’s two-per-cent spending target and stating, “we should no longer send three quarters of our defence capital spending to America.” The $9.3-billion plan includes investments in domestic military manufacturing, personnel, and innovation through a new research agency called Borealis, which Carney said could “transform our economy.” Acknowledging the challenges ahead, Carney warned, “None of these goals will come easily or quickly,” as experts cautioned that the strategy’s success hinges on effective execution.
