Canada has made the largest military procurement deal in its history, purchasing 12 submarines from Germany in a bid to build their own submarine fleet. The contract is worth “multiple billions” and follows Canada’s increase on defense spending under PM Mark Carney. He hopes to move it from 2% GDP today to 5% GDP by 2035.
Carney said of the deal, “In a more dangerous and divided world, Canada must be prepared to defend our interests, protect our citizens, build our economy, and secure our future. To that end, we are making the largest defence procurement in our nation’s history with speed, ambition, and discipline.”
Canada orders 12 submarines from Germany in largest defence deal of its kind – BBC
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EXCERPT:
Canada has chosen a German defence company to build its navy’s new submarine fleet, in the largest military procurement deal in Canadian history.
Prime Minister Mark Carney announced on Monday that the government had chosen the company TKMS as the preferred supplier for the multi-billion dollar, 12-vessel contract.
The announcement comes just before Carney leaves for a Nato summit in Turkey, where members are expect to face pressure to show they are boosting defence investment. Since taking office, Carney has bumped Canada’s defence spending to 2% of GDP, and has committed to reaching 5% by 2035.
According to the government, only one in four of Canada’s submarines is currently seaworthy.
The country – which has the longest coastline in the world – is growing increasingly concerned about climate change warming Arctic waters and opening up new fronts for adversaries to attack.
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