Canada spent 1.4% of its GDP on defence in 2024 and was on course to increase this to 2% of GDP by 2032 under former prime minister Justin Trudeau. During last year’s election campaign, Carney pledged to meet that target by 2030 – but announced this week that the government would aim to hit the 2% target by the end of the fiscal year in March 2026.

Canada will meet NATO’s military spending guideline by early next year and diversify defense spending away from the United States, Prime Minister Mark Carney said Monday, asserting that Washington no longer plays a predominant role on the world stage.

Canada, under pressure to spend more on its military, vowed on Monday to boost funding for the armed forces and hit NATO's 2% military spending target this fiscal year, five years earlier than promised.