2017 NWT Budget: What does it mean for entrepreneurs?

CFIB is cautiously optimistic with the outlook presented in the 2017-18 Northwest Territories Budget delivered by Premier McLeod on January 31, 2017.

Key budget highlights include:

• a balanced budget and no net debt;
•  no tax increases for families or businesses;
• elimination of 65 redundant positions;
• plan to reduce the number of government departments from 11 to 14;
• projected $100 million in spending reductions;
• The Northwest Territories government is tabling a surplus which totals $167 million this year.

However, CFIB is disappointed the NWT government did not achieve its goal of saving $150 million, as outlined in the 2016 Budget, or commit to any plan to reduce rep tape for business owners.