Canada Would Need to Spend $75.3B More to Reach NATO Defence Spending Target: PBO

Defence Minister Anita Anand speaks to military personnel after getting a tour of the CC 177 Globemaster aircraft at Canadian Forces Base Trenton, in Trenton, Ont., April 14, 2022. The Canadian Press/Christopher Katsarov

The parliamentary budget officer says the federal government would need to spend an additional $75.3 billion on defence over the next five years for Canada to reach NATO’s target of two percent of GDP.

Yves Giroux released an independent forecast today of the military expenditures needed for Canada to meet the target, agreed to by NATO members in 2006.