Prime Minister Mark Carney said Canada will invest hundreds of billions of dollars in defense over the next decade as part of a strategy to steer more of that spending to domestic firms rather than U.S. contractors.
In the next 10 years, Canada will spend 180 billion Canadian dollars ($131 billion) directly on military procurement and CA$290 billion on defense-related infrastructure, Carney said.
“Over the last few decades, Canada has neither spent enough on our defense nor invested enough in our defense industries. We’ve relied too heavily on our geography and others to protect us,” he said at a news conference in Montreal on Tuesday. “This has created vulnerabilities we can no longer afford and dependencies we can no longer sustain.”
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