Budget watchdog says NATO 5% pledge to hike deficit by $63B

February 5, 2026

The Canadian Press: A report by interim Parliamentary Budget Officer Jason Jacques estimates that gradually ramping up core defence spending to meet the new target will cost the country roughly an extra $33.5 billion a year.

NATO members committed to the steep new five per cent target last year in response to pressure from U.S. President Donald Trump to hike military spending across the alliance…