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N.W.T. to table first budget since gaining control of resources
YELLOWKNIFE – The Northwest Territories will table its budget today — the first one since an agreement that will see the territory gain control from the federal government over natural resources.
The agreement, which takes effect in April, is expected to boost the territory’s revenues by about $60 million this year.
Finance Minister Michael Miltenberger has suggested a good-news budget is coming after two years of tight spending and debt repayment.
It’s the third year in a four-year plan intended to boost the territory’s cash reserves and create more borrowing room for investment in large infrastructure projects.
Those projects include highway improvements, a north-south fibre optic link, liquid natural gas projects and hydro transmission lines.
Such projects are considered key to developing the North’s natural resources.
The N.W.T. has run surpluses for the last two years and has one of the lowest debt ratios in Canada.
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