Premier and Finance Minister Sandy Silver tabled the 2018–19 First Supplementary Estimates in the Legislative Assembly today. The Supplementary Estimates include $13.4 million in additional spending over the 2018–19 Main Estimates – an increase of less than one per cent.
The historically low variance from the Main Estimates is a result of improvements around integrating key branches of economic and fiscal forecasting in the Department of Finance.
Notable items included in the Supplementary Estimates are:
- higher than expected wildland fire expenses as a result of prolonged fire activity in southeastern Yukon and providing assistance to other jurisdictions;
- increased interest in the Media Development Incentive program;
- transfer of responsibility for remediation of the Faro Mine to the Government of Canada; and
- additional funding for projects related to the Inuvialuit Final Agreement and the Climate Change Secretariat.
The Premier also tabled the Interim Economic and Fiscal Update which presents a mid-year update on the local economy and updated government projections. The update is consistent with the 2018–19 Economic and Fiscal Outlook tabled in the spring of 2018.
This supplementary budget offers a clear view into our public finance decision-making process and provides strong evidence that our forecasting is on track as we lead Yukon back towards a surplus budget in 2020–2021.
Premier and Minister of Finance Sandy Silver
Supplementary Estimates are used annually by a government to account for spending that is unforeseen at the time of setting the annual budget.
The Supplementary Estimates includes $4.8 million in additional Operations and Maintenance spending and $8.6 million in additional Capital funds.
Yukon’s total deficit is $4.8 million for the fiscal year, $300,000 more than was projected in the Main Estimates.
Fiscal and Economic Outlooks are produced each spring and fall and provide a snapshot of the local economy and key economic indicators monitored by the Government of Yukon.
Janine Workman
Cabinet Communications
867-393-7449
janine.workman@gov.yk.ca
Eric Clement
Communications, Finance
867-393-6482
eric.clement@gov.yk.ca