Today, Premier and Finance Minister Sandy Silver tabled the Government of Yukon’s revised 2021–22 Budget, which focuses on improving the lives of Yukoners and includes significant investments in education, housing, community infrastructure and renewable energy projects.
The revised budget for 2021–22 is $1.79 billion. Operating and maintenance expenses will be $1.36 billion. Capital spending is $434 million.
In addition to prior commitments, the revised 2021–22 Budget includes a $1 million initial investment to further address public health impacts of opioids and other drugs for those living with addiction. It also includes $500,000 to start developing a plan to provide dental benefits to uninsured Yukoners as identified in the Putting People First final report. These are campaign commitments and were also agreed to in the Confidence and Supply Agreement (CASA) with the Yukon NDP.
The revised Budget also includes $6.4 million in Territorial Health Investment Fund transfers and $5.5 million in COVID-19 supports from Canada, which were both identified since the tabling of the Budget in March. Combined, these funding arrangements are helping reduce the annual deficit and net debt position for 2021–22 since the Budget was tabled in March.
Also tabled today were revised Second Supplementary Estimates for the 2020–21 fiscal year. This includes $330,000 for the territorial election and pension plan expenses, which did not appear in the Second Supplementary Estimates tabled in March 2021.
A revised Fiscal Outlook outlining the government’s revised fiscal position was also released along with a summary of revisions between the March Budget and the revised Budget tabled today.
Our government is proud to table a revised Budget that will make life more affordable while investing in a more sustainable and prosperous future for the Yukon. We are making historic investments in Yukon families with a new universal childcare program as well as renewable energy projects that will help us address climate change. The Budget also includes funding for ongoing COVID-19 programs to ensure Yukoners and their businesses have the support they need as we emerge from the pandemic and get on the path to recovery.
Premier and Minister of Finance Sandy Silver
A 2021–22 Budget Bill was tabled in March during the 34th Session of the Legislative Assembly.
Between the 2021–22 Main Estimates tabled in March and the 2021–22 Main Estimates tabled in May, the annual deficit decreased from $12.7 million to $6.6 million, while net financial debt decreased from $175.4 million to $169.6 million.
The Government of Yukon’s revised Second Supplementary Estimates for the 2020–21 fiscal year forecasts a revised deficit of $7 million and year-end net debt of $88.5 million.
The Confidence and Supply Agreement was signed by the Yukon Liberal Caucus and the Yukon NDP Caucus and establishes the basis for which the Yukon NDP Caucus will provide confidence in a Yukon Liberal Government. It is in effect from April 28, 2021 to January 31, 2023.