Prime Minister Mark Carney is pledging greater funding for security and the Canadian military at what he calls a hinge moment in history.

Citing threats from “a more dangerous and divided world” that are “unraveling the rules-based international order,” Carney says Canada must work toward new international partnerships with stable democracies that are “more secure, prosperous, just and free.”

Carney is fast-tracking Canada’s defence spending targets.

“Canada will achieve NATO’s 2 per cent of GDP target this year, half a decade ahead of schedule” says Carney.

Prime Minister announces plans to expand mandate of Canadian Coast Guard

In the meantime, Carney vows to expand the reach, security mandate, and the abilities of the Canadian Coast Guard “and integrate it into our NATO defence capabilities to better secure our sovereignty, and expand maritime surveillance.”

A new defence policy will be drafted by the Department of Defence, to reflect what Carney calls “today’s and tomorrow’s threats” and a defence procurement agency is being created under a new defence industrial strategy.