On February 22, 2017, Keith Peterson, Minister of Finance, presented Nunavut’s budget for 2017-18. Following an “almost balanced” budget last year, the Minister’s ninth budget forecasts a modest surplus of $2 million, including a $40 million contingency fund.
Stressing that the territory’s fiscal situation is essentially “balanced”, this year’s budget continues to focus on the current government’s four key priorities: economic growth through responsible development; self-reliance and optimism through improved education and training; promoting healthy families and strong communities; and good governance through the wise use of resources. Calling on the federal government to invest in several major infrastructure projects, the budget also announced significant investments in healthcare and education.
Despite announcing the launch of a comprehensive review of the territory’s taxation system last year, no tax changes were presented in this year’s budget.
Further information on the Nunavut budget for 2017-2018 can be found on the territory’s website at: Nunavut Budget 2017-18