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The Senate’s Defence committee issued on Monday its new report outlining the military equipment and capabilities the federal government needs to acquire if the country wants to be seen as serious on defence.

Among the recommendations is that Canada build a fleet of 12 new submarines equipped with air independent propulsion systems. Six vessels would be based on each coast, the senators recommend.

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“An enhanced submarine capability is vital for the Royal Canadian Navy,” the report states. “The current fleet of four Victoria-class submarines is inadequate to provide an effective presence in three oceans and a much larger fleet is required.”

The price tag?

Look to Australia for a hint on that.

The Senate committee points out that Australia is acquiring 12 new submarines at a cost of $50 billion Australian dollars. The Canadian and Australian dollars are pretty much even in value.

That enormous cost is enough to sink the Senate’s recommendation, say DND sources.