The final budget of the current Nunavut legislative assembly has been presented and it contains heavy spending on capital projects.
The GN plans to spend around $2.64 billion for the 2025-26 fiscal year. Total revenues are forecast to be up by $168 million due to increases in federal transfers, revenues from third-party agreements, taxes and other own-source revenues, but there will still be an estimated budget deficit of around $124 million when everything is counted.
Approximately $350 million of expenditures money will be going toward capital projects.
SA国际影视传媒淭he projected deficit that we have will not have a long-term impact on our government or future governments,SA国际影视传媒� said Finance Minister Lorne Kusugak. SA国际影视传媒淲e need the infrastructure, we need these programs to move forward. WeSA国际影视传媒檙e in a challenging world now (and) thereSA国际影视传媒檚 so many things in our territory that are needed.SA国际影视传媒�
The Department of Family Services is getting a $33 million bump up to $229 million, while the Department of Health sees its budget rise to $580 million, up $60 million from one year ago.
Deputy finance minister Daniel Young said both departments experienced large deficits and subsequently asked for extra funding last year.
"Most of this budget is focused on bringing them up to where they need to be," he said.
The budget also accounts for the creation of two new departments, known as Community Services and Transportation and Infrastructure Nunavut. Those new departments will have allocations of $162 million and $262 million, respectively.
Young said the GN will also go on a bit of a hiring freeze.
SA国际影视传媒淲eSA国际影视传媒檝e directed all departments to redeploy existing resources rather than look for new resources,SA国际影视传媒� he said. "Any new spending is focused on departments that were already underfunded.SA国际影视传媒�
A total of $110 million in capital funding will go into housing, including $52 million for public housing and $20 million for staff and affordable housing.
SA国际影视传媒淗ousing remains one of our highest priorities,SA国际影视传媒� said Kusugak.
For this budget, Kusugak said he's happy with how it looks.
SA国际影视传媒淭he spirits are good,SA国际影视传媒� he said.. SA国际影视传媒淚 think weSA国际影视传媒檝e got a really good budget going forward. ItSA国际影视传媒檚 never easy to put a budget together. I wish we had an endless purse to do all the things that need to be done, but I always strive to do better.SA国际影视传媒�
