Statement from Premier Silver on Canada’s 2022 Fall Economic Statement

Premier Sandy Silver has issued the following statement:

“Canada’s Finance Minister Chrystia Freeland has provided an update on the current state of Canada’s economy and released the 2022 Fall Economic Statement.

“At a time when the world is dealing with high levels of inflation, Yukoners and all Canadians are looking to all governments for solutions that will make life more affordable.

“We are pleased to see Canada effectively doubling the GST credit for six months for low and modest-income Yukoners and families, providing inflation relief for those who need it most. Over 10,000 Yukoners are expected to benefit from this support. Single Yukoners without children will receive up to $234 in this expansion and couples with two children will receive up to an extra $467. Seniors will on average receive an extra $225. In addition, we are pleased that the Government of Canada will top-up the Canada Housing Benefit to $500, which will benefit more than 2,000 low-income Yukon families who are struggling with the cost of housing. These benefits complement the Yukon government’s inflationary relief measures, including the expansion of the $150 Inflation Relief Rebate for all residential and commercial electricity customers in the territory; the $50 per cord rebate to offset the cost of firewood for home heating; and additional financial relief for recipients of social assistance, the Yukon Seniors Income Supplement and the Pioneer Utility Grant as well as caregivers for children receiving out of home care. These measures are putting more money in the pockets of Yukoners.

“As the Yukon continues to make progress to meet the targets in Our Clean Future, it is encouraging to see that the 2022 Fall Economic Statement proposes a refundable tax credit equal to 30 per cent of the capital cost of investments in electricity generation systems, battery storage, heat pumps and industrial zero emission vehicle infrastructure. We are also pleased to see the federal government continue to engage in critical mineral exploration, as the Yukon is very well-positioned to help meet the demand for domestic-sourced materials to support Canada’s transition to a green economy.

“In addition, Canada will invest $1.28 billion over the next six years to improve regulatory processes for major projects and the Yukon government looks forward to learning more about how northern regulatory bodies, including the Yukon Environmental and Socio-economic Assessment Board and the Yukon Water Board, will benefit from this announcement.

“Over the coming days and weeks, our government will continue conversations with our federal partners to discuss specific details about each of these initiatives and how they benefit Yukoners and our territory.”