Statement from Premier Currie Dixon on the Spring Sitting and Budget 2026

Premier Currie Dixon has issued the following statement.

“In one month, on March 19, the Yukon Legislative Assembly will reconvene and I will table Budget 2026.

“While I cannot release specific details about budget decisions in advance of that date, I can tell you that our first budget will reflect the realities we face as a government and as Yukoners.

“As part of our commitment to transparency with Yukoners, I want to underscore that our territory is approaching a period of significant fiscal pressure. It is important that we acknowledge the financial challenges before us.

“When we took office, we knew we were inheriting a challenging fiscal situation and that we would have to make some difficult decisions as the new government, but the situation is worse than we thought.

“We are approaching our $1.2 billion debt limit, with current debt at approximately $900 million. That leaves just over $300 million in additional borrowing capacity. When we set aside $100 million as a reserve for unforeseen emergencies, our available capacity for planned borrowing drops to about $200 million, which must accommodate borrowing room for the government and its corporations.

“I have asked the federal government for a substantial increase in the Yukon’s debt limit. The approval timelines of an increase are at the discretion of the Government of Canada, and we cannot exceed our debt cap in the interim. We will continue to advocate to the Government of Canada on behalf of Yukoners, and to explore opportunities to build our fiscal toolbox.

“We will need to focus our investments into our most critical priorities. We know that further investment is needed in many areas, and while we are committed to improving life in the territory for all Yukoners, these initiatives may take time to advance. Our goal is to balance spending and get our fiscal house in order.

“While this is our situation currently, our long-term economic health and debt load appear manageable, and we are optimistic that with sound, responsible financial decisions, we can stabilize and improve our situation over time.

“Our immediate focus remains on our core priorities to ensure that the sound decisions we make today take into consideration their impact on future generations and the territory’s long-term fiscal wellbeing.”