Members of the Legislative Assembly approved the $328 million Capital Estimates for the 2023-24 fiscal year. This includes money for critical infrastructure projects in communities across the Northwest Territories (NWT).
The 2023-2024 budget is significantly less than previous Capital Estimates. Over the past several years, capital budgets have been significantly higher than capital spending due to limitations in the capacity of the Government of the Northwest Territories (GNWT) and the territory to complete projects. Under a new approach to capital budgeting, the GNWT has committed to ensuring that its budget will better reflect the expected capital spending.
Every year, the GNWT invests in infrastructure that helps us serve NWT residents, including public housing units, schools and health centres. The GNWT also invests in improvements and upgrades to transportation infrastructure like roads and airports that connect our people and communities.
The timing of approval of the 2023-2024 Capital Estimates provides a planning period for both departments and contractors. This planning period is intended to facilitate the procurement process and accommodate the relatively short summer construction period in the Northwest Territories.
Quote(s)
“The 2023-2024 Capital Estimates align realistic spending and achievable timelines and continue to advance mandate priorities agreed to by the 19th Legislative Assembly. The new approach that resulted in these proposed estimates will encourage comprehensive planning, support more realistic fiscal management and, importantly, focus attention and accountability where it should be—on the delivery of projects that are ready to be advanced.”
- Caroline Wawzonek, Minister of Finance
Quick facts
- In total, the 2023-24 Capital Estimates presents a plan to spend $328 million on capital projects: A more realistic and achievable budget that reflects the current status of projects and the capacity of the GNWT and NWT construction industries.
- The GNWT has taken a revised approach to the preparation of the 2023-24 Capital Estimates with the goal of developing a capital plan that better aligns the GNWT’s planned spending with actual project delivery.
- Some previously announced projects have been moved from planned delivery in 2023-2024 onto a ‘priorities and planning’ list, including the Great Bear River Bridge currently proposed as part of the Mackenzie Valley Highway, the Colville Lake school, and a number of long-term care facilities.
- This change does not mean that the GNWT is removing previously approved projects from our long-term planning.
- The revised approach also did not affect annual capital funding pools, including small capital projects, capital asset retrofit and bio-mass funding, highway chipseal/bridge/culvert funding, information management and technology capital equipment or deferred maintenance.
Related links
For media requests, please contact:
Todd Sasaki
Manager, Public Affairs and Communications
Department of Finance
Government of the Northwest Territories
New approach leads to more achievable and fiscally responsible capital budget for GNWT - Government of Northwest Territories
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