Arab Canada News
News
By Arab Canada News
Published: April 5, 2022
Ottawa - One of Canada's most influential business groups made an unprecedented request on Thursday to increase the share of defense spending in the federal budget due to the Russian invasion of Ukraine.
The Canadian Business Council says the time has come for Canada to commit to matching NATO's target of 2 percent of GDP on defense spending.
Canada's current level is less than 1.4 percent, but it has been under pressure for years by the United States and other NATO allies to raise spending to the 2 percent target.
In a letter dated March 15 to Finance Minister Chrystia Freeland, the council said the Russian invasion is forcing the world to shift its focus from domestic priorities to defense and security.
The council, formerly known as the Canadian Council of CEOs, is an advocacy group for the country's top business leaders, and it has never before pushed for the issue of defense spending during previous budget cycles.
President Goldy Hyder said it is important for the budget to signal its commitments to NATO and to adopt a larger global economic plan to show how Canada can address the volatile international landscape created by the Russian war on Ukraine.
Edited by: Dima Abu Khair
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