Statement from Minister of Finance Sandy Silver on federal Budget 2024

Minister of Finance Sandy Silver has issued the following statement:

“The Government of Canada tabled the federal Budget 2024 yesterday.

“As affordability remains a top concern for Yukoners and all Canadians, we are encouraged that the Government of Canada has made housing a priority in this budget. Our government has put a spotlight on housing in the Yukon’s Budget 2024–25, moving to build more affordable homes, community housing projects and rental housing. We also recognize the Government of Canada’s commitment to create a Canadian Renters’ Bill of Rights, which aligns with our government’s efforts to review and update the Residential Landlord and Tenant Act, and will be sure to make the Yukon’s voice heard as these principles are developed.

“Our government looks forward to discussions with the Government of Canada about how new federal initiatives will be implemented in the Yukon. It is critical that the design and delivery of these programs reflects the distinct circumstances of the territory, including high construction costs, a short construction season and limited labour markets.

“Investments in housing and housing-enabling infrastructure are welcome, but the absence of a comprehensive community infrastructure program is concerning. In part, thanks to the Investing in Canada Infrastructure Program, our government has achieved record-setting capital spending. We are keen to hear plans for a long-term successor program to help us continue building the infrastructure that Yukon communities need. Projects such as the new Yukon Convention Centre would also help to drive local economic growth, and we expect further discussions with federal counterparts about how these important developments can be supported.

“Our government has been a strong advocate for investments in Arctic security. A secure, healthy, and prosperous North are essential to the security of Canada as a whole. We support increased spending on dual-use defence infrastructure and look forward to further discussions with the federal government on how resources can be maximized to both strengthen Canada’s presence in the North and benefit Yukon communities.

“Mining has been an important part of Yukon life for over a century, and with demand for critical minerals to support the green energy transition, mining is also an essential part of the Yukon’s future. We are pleased to see the Government of Canada is extending the Mineral Exploration Tax Credit by another year, which will help mining companies raise the financing required for early exploration efforts.

“I also appreciate the federal government’s investment in a National School Food Program in this year’s budget. Good nutrition is vital for students’ mental and physical health, and helps all students to reach their learning potential. We look forward to hearing more details on how this program will support Yukon school food programs across the territory.

“In the upcoming weeks, we will work with our federal partners to better understand and influence the details of initiatives in federal Budget 2024 in a way that provides the most benefit for Yukoners.”