Liberal-NDP Coalition Sinks Territory Deeper into Net Debt

WHITEHORSE – On Thursday, the Liberal government tabled their second territorial budget under Premier Ranj Pillai. The net debt figures show Pillai and the Liberal-NDP agreement are adding historic levels of net debt and bleeding the Yukon dry of money.

The 2024/25 budget forecasts a record net debt of $488.8 million. According to the Public Accounts, the Yukon Government’s net financial assets in 2021 were over $182 million.

“The reckless spending by the Liberal-NDP coalition will have negative long-term consequences for the territory,” said Finance Critic Brad Cathers. “This government’s growth is out of control, with operational spending ballooning almost 10 per cent. Meanwhile, they continue to chronically underfund Yukon Hospitals, giving them $14.3 million less in operational funding for the coming year than was needed in 2023/24, and failing to account for increases in the negotiated agreement with hospital employees.”

The 2023-2024 supplementary budget barely avoids going into deficit. The projected surplus for the current fiscal year shrank to $1.7 million in the second supplementary budget. Notably, the government only avoided a deficit by pulling the $21 million Skagway Marine Services Dock from the budget, though it was only added last fall, and the government remains committed to the project.

“We need a government who will responsibly manage the territory’s spending, like Yukoners who make tough choices every day due to the increased cost of living,” said Leader Currie Dixon. “Last fall, we tried to eliminate the landlord assistance program from the budget, and it has now been cut. In addition, this government is running out of money because a few projects are eating up a large amount of the available capital budget. Meanwhile, the spending on the CASA keeps growing.”

Yukoners are done with this Liberal government and 80 per cent of Yukoners want a change in government. The question remains, will Kate White and the NDP give up the extra $270,000 a year they are paid by the Liberal Cabinet for their support and provide Yukoners a chance to express their opinion? Or are they content to continue their coalition spending spree that is driving the Yukon deeper into net debt?


Tim Kucharuk
Media Director
(867) 689-7874

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