Canada to increase military spending 70 percent in 10 years

Canada to increase military spending 70 percent in 10 years

Canada to increase military spending 70 percent in 10 years

Finance officials say Canada's new defence policy - which boosts military spending by billions of dollars - won't have a significant impact on future projected deficits.

The new defense policy was announced the day after Canada's Foreign Affairs Minister Chrystia Freeland, delivered a speech where she called on Canada to take a bigger role in global affairs in the wake of perceived American retrenchment.

With the additional money being poured in, Ottawa reports it will spend $533 billion in all on defense in the next 20 years.

In her address to Parliament on Tuesday about the government's foreign policy goals, Foreign Affairs Minister Chrystia Freeland urged Canada to resume its role on the world stage that it once had during the First and Second World Wars.

So when Defence Minister Harjit Sajjan tabled a new defence policy today-a document the Liberal government is calling Strong, Secure, Engaged-he faced inevitable skepticism about his long-term vision.

"To meet Canada's defence needs at home and overseas, the government will grow annual defence spending over the next 10 years from $17.1 billion in 2016-17 to $24.6 billion in 2026-27 on an accrual basis".

Defence expert Perry said he was personally surprised by how much effort the government put into spelling out where Canada stands - and will stand - on the North Atlantic Treaty Organisation commitment.

Canada will replace its current fleet of 15 destroyers and frigates with a single class of vessel, at a new estimated cost of C$56 billion to C$60 billion.

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Canadian Defense Minister Harjit Sajjan announced Wednesday that the country's military spending would increase by 70 percent over the next decade. It plans to spend $32.7 billion Canadian in 2026/27. "And - and frankly a lot of them do need to improve".

"We are heartened by today's release of Canada's defense policy", US Secretary of Defense Jim Mattis said in a statement following the announcement.

Actually, the most important part is laid out in green, the colour used on page 98 of the policy, in "Figure 2: Actual and Forecasted Defence Budget (Cash basis)", to illustrate the big bulge in spending now needed, especially between about 2020 and 2028, to pay for those ships, and jets, and all the rest.

According to the announcement, Canada has allocated about $18.9 billion Canadian for defense in its 2016/17 budget.

Ottawa will hold an open competition to buy 88 advanced fighters to replace its fleet of 77 CF-18 planes, more than the 65 new jets the previous Conservative government had planned.

"If we're serious about our role in the world, we must be serious about funding our military", he told a news conference attended by dozens of uniformed military personnel.

The government will also commit a large amount of money to better support Canada's military personnel, particularly the ill and injured, as well as family members.

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