NATO Pledges Defence Spending

This is a Canada news story, published by Global News, that relates primarily to Mark Carney news.

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Global News

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US Politics

What counts for NATO’s defence infrastructure spending? Not just minerals - National | Globalnews.ca

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NATO leaders' new pledge to spend at least five per cent of GDP on defence includes up to 1.5 per cent committed to infrastructure and other defence-related investments.

Prime Minister Mark Carney says critical minerals projects and other areas where Canada is already spending money could help.

Experts agree that the NATO agreement is broad enough that it affords allies a lot of wiggle room to justify certain projects as being defence related.

Canada may have a harder time justifying that than other allies.

Kevin Page , the former parliamentary budget officer and president of the Institute of Fiscal Studies and Democracy at the University of Ottawa , told Global News that building the necessary infrastructure for the Ring of Fire alone will cost “billions and billions of dollars ” Page said Carney is seeking to express confidence to future investors and private industry to overcome uncertainty in the global economy.

Page said a deficit between one and two per cent is not out of the ordinary for a weak economy such as Canada ’s right now.

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