FOR RELEASE     #08-256
October 23, 2008

WHITEHORSE – Premier Dennis Fentie released the measures the Yukon government will take to manage local impacts of the global economic downturn.

“Like many other jurisdictions in Canada and the world, we are concerned with what has transpired in the global capital markets,” Fentie said. “To ensure that our economy remains strong we will engage in several initiatives to manage economic impacts the Yukon may experience as a result of what is transpiring around the world.”

The government’s measures include:

• Continuing to maintain a prudent financial position so there is money available to invest where necessary.

• Hosting roundtable discussions with key stakeholders within Yukon to collect advice and input to aid and inform decisions.

• Focusing on key infrastructure investments that will create jobs in the short term and provide an environment for long-term investment and growth.

• Promoting research and development opportunities in Yukon, such as the Cold Climate Innovation Centre and the Climate Change Centre of Excellence.

• Striking an internal committee of deputy ministers, chaired by Premier Fentie, to monitor and assess economic trends and identify opportunities.

• Implementing labour mobility initiatives.

• Expanding trade opportunities with foreign partners.

• Encouraging the federal government to continue to make strategic investments in Canada’s North, meeting their commitment of unlocking vast potential in Yukon which will continue to help Canada’s economic future and ultimately result in economic benefits for Yukoners.

• Continuing to work with First Nation governments to ensure an appropriate federal mandate is renewed to adequately resource First Nation governments and enhancing First Nation capacity to more fully participate in Yukon’s economy.

“Six consecutive year-end surpluses have given this government flexibility for times like this,” Fentie said. “Yukoners should remain confident; this government stands ready to manage changes to our financial environment and will take any action that may be required as we go through this global economic cycle.”

-30-