Nunavut Finance minister Keith Peterson included housing funds as one of his federal budget wishes for the territory this week, but money for new homes appeared to be nowhere the budget’s priorities.
The federal government promised $150m over the next four years to support social housing across Canada. No specifics were given about how much Nunavut will receive to enable a strong
real estate investing in the area.
said in its report that Peterson also lamented they weren’t getting any money for energy, which is needed to upgrade power plants and generators.
As a result, Peterson said the newest Canadian territory has to come up with a 'Plan B’ – only that it can involve slipping into even more debts.
Nunavut earlier asked the government to raise its debt cap up to $750m. The budget is proposing to raise it, but only up to $650m from $400m.
For Nunavut Tunngavik, Inc. president Cathy Towtongie, more should be given to address the needs of the North.
"There has to be long-term strategy instead of band-aid solutions, in terms of food security, [and the] infrastructure deficit for the Arctic," Towtongie was quoted as saying by CBC.
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