WHITEHORSE—Premier Darrell Pasloski released the following statement on the signing of a new agreement with the Government of Canada on resource revenues.
“The prime minister and I signed the resource revenue agreement today,” Pasloski said. “This agreement will enable Yukon to maximize the benefit we get from our growing resource economy. It will bring both immediate and long-term gains and will help us invest in healthy communities and manage our infrastructure and energy needs.”
The new agreement implements amendments to the 2003 Yukon Northern Affairs Program Devolution Transfer Agreement and the 1993 Canada-Yukon Oil and Gas Accord.
Under those arrangements, the Yukon government could retain up to $3 million of revenue generated from resources such as mining and just over $3 million from oil and gas revenues.
Under the new agreement, the amount of future resource revenues that the territory could retain will increase by tens of millions of dollars over time. As resource development increases in Yukon, this improved net fiscal benefit will increase Yukon’s own source revenue and the revenue it could share with First Nations.
For more information about the new arrangements visit www.gov.yk.ca/news/get-the-facts.html.