Carney Plots ‘Buy Canada’ Defense Strategy to Unlock Billions

Canada will spend more of its growing military budget with domestic firms under a defense-industrial strategy that’s meant to unleash more than C$500 billion ($369 billion) in investment over a decade.

The government wants to more than triple Canadian defense industry revenue, boost defense exports by 50% and create 125,000 jobs over a 10-year period. A centerpiece of the policy is a goal to boost the share of defense acquisitions awarded to Canadian firms to 70%, a big shift for a country that has long relied on US military contractors for much of its equipment.

Prime Minister Mark Carney had planned ...