Toronto—Yukon Premier Darrell Pasloski is asking Prime Minister Justin Trudeau to renew the Canadian Mineral Exploration Tax Credit in the upcoming federal budget.
“Now, more than ever, we need to stand up for our resource industries,” Pasloski said. “When we do so, we are standing up for the families who depend on those jobs to put food on the table, and for all the Yukoners and businesses that benefit from a healthy mining and exploration industry.”
The tax credit provides an incentive for junior mining companies to invest in high-value projects, like those found throughout Yukon.
“These tax credits help create a positive environment for investment in exploration, which is the lifeblood of Yukon’s mining industry,” Minister of Energy, Mines and Resources Scott Kent said. “Without these junior companies, the Yukon mining industry – and the communities and people who depend on it – would be put at risk.”
The tax credit needs to be renewed annually through the federal budget process.
“Our government is proud to support this industry and the families and businesses who depend on it,” Minister of Economic Development Stacey Hassard said. “A downturn is not the time to make it more difficult for businesses to succeed.”
The Government of Yukon invests in the exploration and mining industries through its Mineral Exploration Program, which will contribute $1.4 million towards exploration projects in Yukon this year, and last year leveraged about $4.2 million in industry spending in communities across Yukon.
Read Premier Pasloski’s letter to Prime Minister Trudeau.