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WHITEHORSE – The Yukon Party Official Opposition is calling on the premier to make his views known about the next rate decision of the Bank of Canada (BoC) before Wednesday’s announcement. So far, the premiers of both British Columbia and Ontario have called on the BoC to hold off on raising interest rates further because of the significant negative affect on their citizens.
According to the Yukon Bureau of Statistics, the Yukon is facing the largest cost-of-living growth in the country and what little measures that have been put in place by the Liberal government are not working. For the last eight consecutive months, the Yukon has led the country in the rate of growth of the Consumer Price Index (CPI).
“While other premiers are speaking up on behalf of their citizens who are struggling to make ends meet by urging the Bank of Canada to hold off further increasing interest rates, our premier has been distracted by his upcoming trip to Asia,” said Finance Critic Brad Cathers. “Once again, this shows that the territorial Liberals are out of touch with everyday Yukoners, and they are out of ideas about how to address the rising cost-of-living.”
This summer the year-over-year increase of the CPI reached 5.2 per cent which was by far the highest in the country and well above the national average of 3.3 per cent. Despite this, the Liberal government continues to ignore suggestions from the Yukon Party Official Opposition including a temporary cut to the fuel tax, the removal of the carbon tax from home heating fuel, and direct support for seniors, such as doubling the Pioneer Utility Grant.