A strong recovery requires leadership, bold ideas, and action — and we need your help! Add your name if you'll stand with Currie Dixon and the Yukon Party!
WHITEHORSE - The Yukon Party Official Opposition is calling on the Yukon government to increase transparency and improve the government’s accountability to the Legislature when it comes to borrowing money.
On December 20, the Friday afternoon before the holiday season and without any public consultation or democratic oversight, the territory’s borrowing limit was raised to $1.2 billion. This means the Liberals have tripled the borrowing limit since 2016. The latest Fiscal and Economic Outlook released on October 1, 2024, forecasts a record net debt of $530.4 million. According to the Public Accounts, the Yukon Government’s net financial assets when the Liberals came to power in 2016 were $330 million. That is a decrease of over $860 million.
Currently, the Yukon government can borrow money without the approval of the Legislative Assembly or democratic oversight. In May 2021, the Yukon Party proposed amendments to the Taxpayer Protection Act that would require prior authorization by the Legislature before the government borrows money. We call on the Liberals to support those suggested amendments to strengthen the Taxpayer Protection Act.
“The Liberal government has the ability to borrow over $1 billion without telling Yukoners about it until after the fact,” said Brad Cathers, Official Opposition Finance Critic. “We believe the government should have to seek democratic approval of the Legislature before taking on long-term debt. The Liberals have mismanaged the Yukon’s finances so badly, we believe democratic oversight is urgently needed before the territory takes on any new or long-term debt.”
-30-
Contact:
Tim Kucharuk
Media Director
(867) 689-7874
