Carney rolls out plans to build up domestic defence sector, add 125,000 jobs
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Canada has failed both to adequately fund its military and to build up the domestic defence industry, Prime Minister Mark Carney said Tuesday as he rolled out an ambitious new plan to grow the defence sector.
Carney announced the country’s first defence industrial strategy in Montreal, a $6.6 billion plan that lays out how Ottawa wants to build out the defence industrial base and scale up small and medium-sized Canadian businesses to create anchor firms on which the military can rely.
“This is a defining moment,” said Glen Lynch, CEO of Volatus Aerospace, a company that produces drones for both commercial and defence purposes.
His company has some 180 full-time employees across Canada, the U.S., the U.K. and Norway. It’s one of several drone companies the Canadian Army has been in talks with as it searches for ways to integrate modern unmanned aerial systems into its operations.
Lynch said his firm believes Ottawa is serious about scaling up firms in his sector — and is even making business decisions driven in part by the Carney government’s bold talk about boosting the defence sector.
Volatus is ramping up a drone manufacturing hub in Montreal, which is expected to add some 200 jobs over the next two years.
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Canada has failed both to adequately fund its military and to build up the domestic defence industry, Prime Minister Mark Carney said Tuesday as he rolled out an ambitious new plan to grow the defence sector.
Five years after Warren Buffett sold off all of Berkshire Hathaway’s newspapers and predicted unending declines for most of the industry, Berkshire disclosed a new US$350 million investment in the New York Times on Tuesday.
Prime Minister Mark Carney has made a series of claims recently about how much the federal government’s support for tariff-stricken industries has protected jobs in Canada.