Premier and Finance Minister Sandy Silver delivered his second budget in the Legislative Assembly on Mar. 1, 2018. The budget builds capacity and plans for a prosperous future for all Yukoners while putting the government’s finances on a more sustainable path.
The 2018-19 Budget includes a nearly $40 million investment in housing and land development to address Yukon’s housing needs. Another $42 million is going towards municipal and First Nation infrastructure. There are also investments in healthcare, with over $43 million to complete and begin operation of the Whistle Bend Continuing Care Facility, and $3.5 million to open 10 new beds at the Thomson Centre to ease bed pressures. Overall, the $1.47 billion budget invests approximately $1.19 billion in operations and maintenance spending, and $280 million in capital spending.
For the first time, the budget includes a five-year capital plan indicating the government’s long-term plans for capital investment in the territory. This was one of the Liberal Party’s campaign commitments, and we’re happy to deliver on it.
The five-year capital plan increases transparency around capital investments, which helps the private sector, First Nations and communities plan effectively for upcoming capital projects, and helps local businesses to secure government contracts.
The Yukon Liberal Caucus is excited to present a budget that delivers on a several of our commitments:
- We committed to creating a five-year capital plan to let the private sector know what was coming down the pipeline – we have delivered.
- We committed to developing an annual list of seasonally dependent contracts and getting them out the door by March 31 – we have delivered, with $46 million in seasonally dependent contracts to be tendered by March 31, 2018.
- We committed to making the Yukon Now tourism marketing permanent – we have delivered, with $1.8 million annually.
- Advancing the fibre-optic redundancy project was another commitment – we are delivering by including the fibre-optic line in the five-year capital plan. We look forward to sharing more details on this in the coming weeks.
- We committed to allocating up to $30 million a year in energy retrofits – we are delivering, with over $11 million allocated in 2018-19 and more funding to be announced soon.
- We committed to expanding campground infrastructure – we are delivering, with $1 million in 2018-19.
- We committed to building a new francophone high school – we are delivering. That project is moving forward with $3 million in 2018-19, and supported by a respectful relationship with Commission scolaire francophone du Yukon.
- We committed to developing programs to assist victims of sexual assault – we have delivered, with $320,000 for the creation of a Sexualized Assault Response Team.
As we enter the second year of our mandate, we look forward to continuing to deliver on the commitments we made to Yukoner’s in the 2016 election.
“A budget should support a more systematic, informed and open approach to making government decisions and investments. This Budget is a significant step towards this.” – Premier Sandy Silver
Learn more about the 2018-19 Budget here.