Mr. Speaker, I have good news. Canada has reached the NATO 2% defence spending target half a decade ahead of schedule and with the largest year-over-year increase for our defence budget in generations. This is a proud moment, and I want to congratulate the Prime Minister and the Minister of National Defence for their leadership in making it happen.
This is more than a number. It is a signal to the world that Canada is serious about defending what we have built and protecting what we value. Cape Breton knows this very well, because Sydney has been selected as the preferred home for Canada's next generation of polar ice vessels. This is bringing jobs, strengthening our Arctic sovereignty and putting our community at the centre of the defence renewal.
We are rebuilding and we are rearming, and in a world that is watching, Canada once again will lead the way.