Latest news with #ReutersOttawa
Yahoo
11 hours ago
- Business
- Yahoo
Canada promises to ramp up defense spending, met NATO target much earlier
TORONTO, June 9 (Reuters) - Canada's Liberal government will pour extra billions into its armed forces and hit NATO's 2% military spending target this fiscal year, much earlier than scheduled, Prime Minister Mark Carney said on Monday. Canada has been under heavy pressure from the United States and other NATO allies for years to increase funding for its military. Canada currently spends about 1.4% of GDP on defense. "Now is the time to act with urgency, force, and determination," Carney said in a speech in Toronto. The previous Liberal governent had promised to hit the NATO target by 2032. Canada will boost pay for the armed forces and buy new submarines, aircraft, ships, armed vehicles and artillery, as well as new radar, drones and sensors to monitor the sea floor and the Arctic, Carney said. ((Reuters Ottawa editorial; Keywords: CANADA POLITICS/DEFENSE
Reuters
24-04-2025
- Automotive
- Reuters
Canada decides what happens to auto sector, not Trump, says Carney
PORT MOODY, British Columbia, April 24 (Reuters) - Prime Minister Mark Carney on Thursday dismissed Donald Trump's remarks about not wanting Canadian cars, reiterating that the U.S. President wanted to break Canada. "He said he doesn't want Canada to play any part in the North American auto industry. So, I will be equally clear: this is Canada - we decide what happens here," Carney he said in a speech in British Columbia ahead of Monday's general election. Trump told reporters on Wednesday that he did notwant Canadian cars and said a 25% tariff imposed on cars imported from Canada to the United States could go up. (Reporting by Promit Mukherjee, editing by David ljunggren) ((Reuters Ottawa editorial, opens new tab)) Keywords: CANADA POLITICS/TRUMP
Reuters
28-02-2025
- Business
- Reuters
Canada budget deficit over first nine months of 2024/25 at C$21.72 bln
OTTAWA, Feb 28 (Reuters) - Canada recorded a slight drop in its budget deficit to C$21.72 billion ($15.05 billion) for the first nine months of the 2024/25 fiscal year as government revenues increased faster than expenditure, the finance ministry said on Friday. By comparison, the deficit in the same period a year earlier had been C$23.61 billion, it said in a statement. Program expenses rose 10.7% on increases across all major categories of spending for the nine months. Public debt charges increased by 17.3% largely because of higher interest rates, the ministry said. Year-to-date revenues grew by 11.8%, largely reflecting higher tax revenues and from other taxes and duties. On a monthly basis, Canada's budgetary balance in December swung to a surplus of $1 billion, from a deficit of C$4.47 billion in same month the prior year. ($1 = 1.4432 Canadian dollars) (Reporting by Promit Mukherjee, editing by Fergal Smith) ((Reuters Ottawa bureau; opens new tab)) Keywords: CANADA BUDGET/ here.
