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The Minister and the Department of Finance have the mandate for obtaining, managing and controlling the financial resources required to implement the Government of the Northwest Territories' policies and programs. This mandate includes, negotiating major financial arrangements with the federal government, providing analysis and advice to the Financial Management Board, and ensuring that financial and information resources are managed effectively, efficiently and economically. The Minister and Department are also mandated with regulating the insurance industry and controlling the sale of alcohol products in the Northwest Territories.

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Results of Budget Dialogue 2014 Released

 

YELLOWKNIFE (January 15, 2015) – Participants in the 2014 Budget Dialogue expressed satisfaction with the Government of the Northwest Territories’ (GNWT’s) fiscal strategy to manage program expenditure pressures to help fund infrastructure investments and supportive of increasing revenues over the longer term through economic and population growth according to the Budget Dialogue report released today by Minister of Finance J. Michael Miltenberger. The report summarizes what was heard from the almost 100 Northerners who attended the public sessions held last fall in the seven regional centres and in 11 written submissions.

 

“The Budget Dialogue 2014 discussions reflected our concern about the economy over the medium term and serious implications for our fiscal situation,” said Minister Miltenberger. “Although we did not come into the sessions with good news, we left with optimism that together we can improve our economy and ensure that the GNWT’s finances remain sustainable.”

 

The Minister of Finance met with residents, businesses and organizations across the NWT last November to take stock of the accomplishments of the 17th Legislative Assembly, discuss the GNWT’s fiscal situation and on-going financial management, seek NWT residents’ views on top priorities for investments, and ask residents what the GNWT can do better to manage expenditures, especially given the medium-term outlook for slow revenue growth.

 

The results of the Budget Dialogue will inform discussion during the coming budget session of the Legislative Assembly and beyond.  Other feedback about the government’s fiscal priorities and programs and services will be used in the 2015-16 Budget and will be included in transition materials provided for the next Legislative Assembly.

 

The Budget Dialogue Report is on the Department of Finance website at:

http://www.fin.gov.nt.ca/documents/BudgetDialogue2014ResultsReportFINALPDFDOC7030.pdf

 

 

                         Media inquiries:

                         Roya Grinsted

                         Communications Officer

                         Government of the Northwest Territories

                         Tel: 867-669-2308

                         Email: roya_grinsted@gov.nt.ca

 

 

 

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