opinion

Prime Minister Mark Carney greets the troops during his visit to Adazi Military base in Adazi, Latvia in August.

John Turley-Ewart is a contributing columnist for The Globe and Mail, a regulatory compliance consultant and a Canadian banking historian.

Last Tuesday’s budget put Canada on track to borrow and spend billions, particularly on defence, which was allotted a more-than $80-billion boost over five years. The peace dividend paid since the Cold War’s end has been suspended in Canada.

Canada’s latest defence re-armament plan, Our North Strong and Free , increases military capital spending using new and existing funds by an additional $108-billion versus our last one, Strong, Secure, Engaged . The estimated outlay of $323-billion over the next 20 years is just the am

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