Tue, 30 May 2023

April 14, 2022 - Yellowknife, Northwest Territories - Canadian Northern Economic Development Agency (CanNor)

Today, the Honourable Daniel Vandal, Minister of Northern Affairs, Minister for PrairiesCan and Minister for CanNor, and Michael McLeod, Member of Parliament for Northwest Territories, highlighted good jobs, clean air and a strong economy in Yellowknife, as part of Budget 2022, following a meeting with Indigenous business owners and entrepreneurs at Birchwood Coffee K. They were joined by the Honourable Caroline Wawzonek, Minister of Finance, Minister of Industry, Tourism and Investment, including responsibility for the Business Development and Investment Corporation, and Minister Responsible for the Status of Women for Northwest Territories, and Rebecca Alty, Mayor of Yellowknife.

Through Budget 2022: A Plan to Grow Our Economy and Make Life More Affordable, the Government of Canada makes targeted, responsible, and ambitious investments to create good jobs, grow our economy, and build a Canada where nobody gets left behind.

The federal government is supporting Canadian workers as they develop the skills they need for the good-paying jobs of today and tomorrow.

Budget 2022 invests in economic growth and innovation-the key to Canada's long-term prosperity. This includes launching a new world-leading Canada Growth Fund to attract private investment in Canadian industries and Canadian jobs, and a new innovation and investment agency that will help drive productivity and growth across our economy.

The Budget also supports the implementation of Canada's first Critical Minerals Strategy-one that will create good jobs in Northwest Territories and across the North and Arctic, capitalizing on the growing need for the minerals used in everything from phones to electric cars. Measures also include steps to build more resilient supply chains, and to cut taxes for Canada's growing small businesses.

Budget 2022 is supporting Indigenous economic development in the North and Arctic with $15 million delivered through CanNor.

The hard-hit tourism industry is still recovering from the pandemic. Budget 2022 will invest $4.8 million in the Indigenous Tourism Association of Canada to support its operations, which continue to help the Indigenous tourism industry rebuild and recover from the pandemic.

Finally, the Budget makes significant investments to make life more affordable for Northerners and all Canadians through affordable child care, investments in our public health care system, and by addressing the shameful legacy of residential schools and advancing reconciliation with Indigenous peoples.

Canada's economy remains strong and with Budget 2022, Canada maintains its fiscally responsible approach to economic growth and to building an economy that works for everyone.

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