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2 clusters · 6 sources · 17 days · First seen · Last updated

NATO defence spending target commitments

Overview

Several NATO member nations are outlining strategic plans to increase defence spending to meet alliance targets.

In Canada, the Parliamentary Budget Officer projects that reaching the NATO goal of 5% of GDP for defence by 2035 will require core spending of approximately C$159 billion to C$163.6 billion by the 2035-36 fiscal year. This commitment includes 3.5% for core military needs and up to 1.5% for related security and infrastructure. Achieving these targets could potentially widen the federal deficit by C$63 billion by 2035-36.

Similarly, the United Kingdom has announced plans to increase defence spending to 3% of GDP by 2030 and 3.5% by 2035. The Office for Budget Responsibility estimates that reaching the 3% threshold will require an additional £17.3 billion by the 2029-30 fiscal year. The UK government also highlighted the necessity of establishing a National Centre for Information Defence to address foreign disinformation.

Entities

NATO · Parliamentary Budget Officer · European Union · Office for Budget Responsibility · United Nations

Timeline

  1. [POLITICS] 6 sources
    UK government to outline path to NATO defence spending targets

    UK Prime Minister Andy Burnham confirmed the upcoming Budget will set a path to reach 3% of GDP in defence spending by 2030 and 3.5% by 2035 to meet NATO commitments.

  2. [POLITICS] 5 sources
    Canada defence spending to reach C$163.6 billion to meet NATO targets

    Canada's budget watchdog estimates that meeting NATO's 5% GDP defence target by 2035 will require core spending of up to C$163.6 billion, potentially widening the federal deficit.

Sources

arise.tv · bmmagazine.co.uk · disa.org · standard.co.uk · upday.com · wonderfulmalaysia.com