Premier Sandy Silver’s annual budget for the 2022-2023 fiscal year includes record capital spending of $546.5 million.

The estimated capital budget represents a 26 per cent increase over last year’s estimated capital budget of $435 million – and nearly doubles the capital budget from just five years ago.

As is typically the case, the Department of Highways and Public Works has the largest capital budget at $277 million, or $87 million more than last year, representing a 44 per cent increase.

Of the total amount, $155 million is for roads and highways.

While the $116.7 million allotted for Community Services is the second-highest department budget estimate, it does represent a drop of $4.2 million from the current fiscal year’s estimate of $121 million for the department.

Silver also delivered a record operation and maintenance budget of $1.4 billion, for a total budget of $1.97 billion.

The premier presented his financial forecast to the legislature this afternoon, the first day of the spring sitting.

Silver said the latest five-year capital plan includes average annual spending of $519 million for a total of nearly $2.6 billion in spending.

“Since it was first introduced five years ago, the five-year capital plan has dramatically increased transparency around government capital planning while creating more certainty for the private sector,” Silver told the legislature.

“It has also maximized federal funding opportunities through improved improved co-ordination with our First Nations, municipal and private sector partners.

“By working together, we are addressing an historical infrastructure deficit while advancing community-driven priorities throughout the territory.”

Silver said despite record spending, he was proud to again deliver a balanced budget that reflects the prudent fiscal management Yukoners expect from their government, and which they deserve.

Capital expenditure estimates for the top departments are as follows:

• Yukon Housing Corp. – $46.8 million, representing an increase of $8.4 million or 22 per cent.

• Education – $37.5 million, representing an increase of $12.8 million or 52 per cent.

• Yukon Development Corp. – $37.3 million, representing an increase of $4.5 million or 14 per cent.

• Health and Social Services – $16.9 million, representing an increase of $3.5 million or 26 per cent.

• Justice – $4 million, representing an increase of $1.4 million or 54 per cent.

• Environment – $3.9 million, representing an increase of $526,000 million or 15 per cent.

• Tourism and Culture – $3.7 million, representing an increase of $580,000 million or 16 per cent.

• Economic Development – $1.1 million, representing a decrease of $50,000 or five per cent.

The premier spoke of his government’s commitment to housing in this budget and in the five-year capital plan.

“This year’s budget includes more than $60 million for housing initiatives across the Yukon,” Silver said in his budget address.

“We are investing $255 million in capital over the next five years to support access to stable, affordable housing and to allow for a future development.”

He said more than $15 million is budgeted for the completion of a new mixed-use community housing project that will provide 10 new homes in Old Crow.

There’s more than $11 million to incentivized residential construction for projects like the proposed Copper Ridge subdivision expansion by the Kwanlin Dun First Nation that would create more than 180 residential lots, he said.

Silver said there is $4.5 million to build a Housing First residence in Watson Lake.

The budget address noted there is $255 million identified for affordable housing over the next five years, including $26 million this year for the development of residential lots.

This year’s capital budget identifies $71.6 million for repairs and improvements to bridges and highways.

There’s $25.2 million to begin the construction of the new school in the Whistle Bend subdivision.

The capital budget says there is $86.5 million for continuing care, home care, respite care, palliative care, programs and community day programs.

An estimated $79.6 million is earmarked for social supports and substance use programs.

There’s also more than $10 million for a short-stay psychiatric unit in Whitehorse along with $2.6 million for a bilingual health and wellness centre in Whitehorse.

The budget identifies $27 million to create Internet redundancy with the Yukon’s Dempster Highway fibre project.

Of the $155 million indentified to support the transportation network, $51.3 million is budgeted for improvements to the Yukon’s airports.

There’s $43 million identified for Dempster Highway work.

“Our record capital investments have kept Yukoners working while continuing to enhance community infrastructure throughout the territory,” Silver told the legislature.