Defence spending to add 'staggering' sum to deficit by 2035, think tank warns

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By News Room 10 Min Read

OTTAWA – The C.D. Howe Institute predicts Ottawa’s recently announced spending plans — which include a much bigger defence budget — will drive its deficits markedly higher in the coming years.

In a new analysis released Thursday, the think tank said it expects Canada’s deficit to top $92 billion this fiscal year, given Prime Minister Mark Carney’s plan to meet NATO’s defence spending target of two per cent of GDP.

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