Achieving the priorities of this Assembly will require a disciplined approach and a plan to ensure that we are getting value for the money we are spending while preserving the ability to responsibly fund infrastructure needs in our communities and across the territory. Our immediate fiscal situation is not what was hoped in the last budget but it is manageable. Second, in preparing this Budget we needed to take a realistic look at our fiscal challenges. I want to thank all Members of this Assembly for their constructive ideas and work in building our financial plan for the next fiscal year and beyond. Evidence based decision making requires information and perspectives and potential decisions should, where possible, be vetted by those impacted. It is my intention to continue establishing opportunities throughout our processes for public dialogue and engagement with this Assembly. In the relatively short time of four months since this Cabinet was formed, we have tried to chart a more inclusive approach to financial policy setting that better engages all Members. We are always building on work from prior assemblies in a consensus government. It stretches back to the last Assembly when departments were working on their plans for the coming year. I want to make two comments about how this Budget was prepared.įirst, this Budget was a collective effort. I will then describe our planned revenues and expenditures for the next fiscal year and conclude with a discussion about next steps for the financial health and planning of the Northwest Territories. Next, I will discuss our fiscal situation and strategy, which speaks to some of the direct impacts that government can have toward positively influencing our economic situation. I will describe some key drivers in our economy as well as some of our challenges. Shortly, I will review the Northwest Territories economic situation and outlook. This Budget is a foundation upon which we will create and build. This Budget proposes to spend almost $1.9 billion on programs and services in the coming year and sets out further fiscal steps that will support progress on all 22 priorities. This government wants to create a positive path forward for the future.īudget 2020 is a first step on a path towards our priorities, one for which we build relationships within our government, with our communities, and between governments. It succeeds with thoughtfulness and planning. It has been said that it is easier to destroy than to create. We have a responsibility to put the Northwest Territories on a good path using our priorities as a guide and establishing a budget and a fiscal plan to achieve as much distance towards these priorities as possible. These priorities stretch across all of our communities and are our shared vision for economic growth, environmental stewardship and a healthy and better educated population.Īchieving these priorities will be a continuing journey that will outlast the life of the 19th Assembly and this government must make decisions in a way that looks beyond four years to the next generation. The 19th Legislative Assembly wants to see the Northwest Territories make the best possible use of all of our opportunities and resources, including the strength of our people, to achieve the 22 priorities that were set by all 19 members of this Assembly. We have a vast geography, a wealth of resources and a population strengthened by incredible diversity. Speaker, the Northwest Territories is a land of opportunity.
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