Canada Budget Military Spending

Canada's Defense Spending Surge: A Comprehensive Overview

Increase in Defense Budget and Future Projections

Canada's military spending has seen a significant increase in recent years. The defense budget for 2021 stood at $26.45 billion, marking a 13.61% hike from 2020. The government's fiscal plan, presented by Chrystia Freeland, proposes a further 30% increase in defense expenditure in the upcoming fiscal year.

2023 Budget and Long-Term Funding

According to NATO figures, Canada's military budget is projected to reach $36.7 billion in 2023. Additionally, the government has allocated an extra $8 billion in new funding over the next five years, building upon existing plans for increased military expenditure.

Liberal Government's Vision

The Liberal government estimates that the new defense policy will result in a 17.6% increase in military spending. Canada's defense budget, currently around $31 billion, is set to receive an additional boost to meet the objectives outlined in the government's "Strong and Free" defense policy.