Trump Shames NATO Members in to Paying Fair Share

Free Ride Ends for NATO Members as Trump saves American Taxpayers Billions of dollars.

Canada’s overall defense budget will jump by almost three-quarters over the next 10 years, reaching $24.2 billion in 2026/27 – a significant increase from $13.9 billion in 2016/2017.

He said the boost will bring total defense spending to 1.4 percent of GDP by 2024/25, up from 1.2 percent currently.

“If we are serious about Canada’s role in the world, then we have to be serious about funding our military,” Sajjan said, as quoted by CBC. “And we are.”

He said Canada will hold an open competition to buy 88 advanced fighter jets to replace its aging fleet of 77 CF-18 planes.

The government also intends to fund the construction of 15 advanced warships which will eventually replace existing vessels.

In addition, the air force will receive new armed drones for surveillance and combat, as well as replacements for its CP-140 Aurora surveillance planes which are nearly four decades old.

The EU has launched a multibillion-euro defense fund amid growing pressure on NATO members to increase military spending and Britain’s preparations to part ways with the bloc in 2019.

The new fund, which was announced on Wednesday, is aimed at boosting defense cooperation within the EU and helping member states jointly acquire hardware and develop military capabilities.

“For too long we have relied too much on the military power of others,” said European Commission President Jean-Claude Juncker, as cited by Deutsche Welle.

“We must now seize the moment to take charge of our own security. We owe this to our fellow Europeans.”

The fund will see €500 million (US$563 million) in EU money provided to purchase and develop military hardware in 2019 and 2020, the European Commission said.

“A more substantial program” will be developed after 2020, which will see spending double to €1 billion annually.

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S. Jack Heffernan Ph.D

CEO at HEFFX

S. Jack Heffernan Ph.D. Funds Manager at HEFFX holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.

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