YELLOWKNIFE (March 1, 2016) – Minister of Finance Robert C. McLeod tabled a review of revenue options for the Government of the Northwest Territories (GNWT) in the Legislative Assembly today.
The review considers the feasibility of raising additional revenues to help fund rising government expenditures. Revenue sources considered include: taxes on individuals and businesses; other taxes like fuel, tobacco and property taxes, school levies and liquor markups; fees and charges; and resource revenues.
The additional revenue potential of the various options was considered based on the following criteria:
“Increasing GNWT revenues can help us partially address the growing gap between government expenditures and the money we are bringing in. While we can increase own-source revenues by raising taxes, fees and resource revenues, we have to be careful that the choices we make do not raise the cost of living for Northerners, discourage investment or shrink the NWT economy. The information presented in this paper will help the Legislative Assembly make decisions about the best ways to increase GNWT revenues, while avoiding any negative side-effects on NWT residents or our economy.”
Senior Cabinet Communications Advisor
Department of Executive
Government of the Northwest Territories
Tel: (867) 767-9000 ext. 11091