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December 07, 2012

Canada's pricetag on the F-35: $30 billion?

Canada may scrap its plans to buy 65 Lockheed Martin F-35 Joint Strike Fighters, according to unidentified sources in a Canadian publication.

The decision, the publication says, stems from anticipated release of a KPMG audit that reports the long-term cost of the program at $30 billion.

Prime Minister Stephen Harper’s cabinet operations committee decided on Tuesday “to bail out” of the nine-nation led defense procurement, which is led by the U.S., the primary money bags of the program, the publication stated. Whether that means its procurement of fighters will change -- remains to be seen.

The industry will be closely watching these developments.

--Yamil Berard

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