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From the CBC
Sure, we could spend 4% of GDP on the military — with huge cuts or tax hikes
U.S. President Donald Trump is demanding Canada and other NATO allies boost their military spending to four per cent of their gross domestic product. Canada spends about 1.2 per cent.
Many politicians and analysts have dismissed the demand as outlandish or impossible. Of course Canada could spend four per cent of its GDP. It's the how that makes it difficult.
Start with some basic math. Canada's nominal GDP is $2.1 trillion. Four per cent of that would come in around $84 billion.
Right now Canada spends about $25 billion annually on national defence. The Liberals have promised to increase that to $32 billion. But to reach four per cent, we're talking about an increase in military spending of about $60 billion from today's level.
COMMENT:-
This might give some insight into why the Canadian government doesn't want to turn Canada into a carbon copy of the United States of America - something that is opposed by the vast majority of the Canadian people.
PS - The projected increase in the Canadian defence budget of 70% by 2024 will have Canada spending approximately 2.176% of its GDP on defence.
Sure, we could spend 4% of GDP on the military — with huge cuts or tax hikes
U.S. President Donald Trump is demanding Canada and other NATO allies boost their military spending to four per cent of their gross domestic product. Canada spends about 1.2 per cent.
Many politicians and analysts have dismissed the demand as outlandish or impossible. Of course Canada could spend four per cent of its GDP. It's the how that makes it difficult.
Start with some basic math. Canada's nominal GDP is $2.1 trillion. Four per cent of that would come in around $84 billion.
Right now Canada spends about $25 billion annually on national defence. The Liberals have promised to increase that to $32 billion. But to reach four per cent, we're talking about an increase in military spending of about $60 billion from today's level.
COMMENT:-
This might give some insight into why the Canadian government doesn't want to turn Canada into a carbon copy of the United States of America - something that is opposed by the vast majority of the Canadian people.
PS - The projected increase in the Canadian defence budget of 70% by 2024 will have Canada spending approximately 2.176% of its GDP on defence.