The Yukon finally joined its sister territories, the Northwest Territories and Nunavut, in the billion-dollar budget club this afternoon as Premier Dennis Fentie unveiled $1.003 billion in projected spending for the next fiscal year.

"As we face the challenges of the global economic downturn, our budget will make strategic investments in infrastructure and in people," said Fentie - who also serves as Finance minister - of the 2009-2010 budget he tabled in the legislature.

For those following pre-budget announcements between the end of the fall sitting in December 2008 and today's budget release, Fentie's speech contained few revelations.

Even yesterday's announcement by Health Minister Glenn Hart that his department would see a $20-million increase for program and service delivery was not earth-shattering.

Compared to last year's budget projections, the new spending represented more than a 10 per cent increase, but as Health's budget will expand to $226 million by the end of the fiscal year Mar. 31, the extra $20 million for next year amounts to only one per cent more.

As in previous years, and in the corresponding order, Health, Education and Public Works continue to be the most costly departments.

While this record budget increases overall spending by 4.3 per cent, like Health, estimated operations and maintenance spending for Public Works increased just one per cent and Education increased by only two per cent.

There will be no new taxes for Yukoners, neither income nor on goods and services.

According to David Hrycan, deputy minister of Finance, the government has $250 million in cash and investments.

Revenues from corporate taxes are expected to fall this year by 16 per cent and Hrycan blames the sagging economy for that.

"Well over half of tax income is based on national corporations and as their taxable income decreases, profits allocated to the Yukon decreases accordingly," he said.

However, personal income tax and other tax revenue is expected to increase.

As for money coming to the Yukon and represented in this budget release, which emanates from the Jan. 27 federal budget - that figure sits at less than $10 million.

"Infrastructure money from Ottawa factors somewhat into the budget.... some of which is reflected in here, most of it is cost-shared," said Hrycan.

"There's a small amount included in January 2009 announcements but we'll start showing other money (as the year progresses)."

For the seventh year in a row, the Yukon government is projecting a spending surplus; this 2009-2010 budget pegs it at $19 million.

"When most goverments are in net deficit, we feel we're in a good postion.... and it's also positive (surpluses) going out for the next four years," Hrycan added.