Yukon MP Ryan Leef was scheduled to defend his party's budget in the House of Commons this afternoon.

Finance Minister Jim Flaherty unveiled the budget, called The Next Phase of Canada's Economic Action Plan — A Low Tax Plan for Jobs and Growth, on Monday.

Today, Leef was to stand in the Commons and deliver a speech on what this budget has to offer Canadians, particularly northerners. He was then slated to defend his position, taking questions from other MPs.

Though it has just been tabled, the budget looks very familiar; in fact, it is almost identical to the budget tabled by the Conservative government on March 22. That budget was never passed, as Parliament was dissolved on March 26 for the May 2 election.

"We all campaigned on the budget,” Leef said after the budget was unveiled on Monday. "The messaging has been out for quite some time about what this budget contained. It wasn't going to be a surprise to Canadians.”

The biggest changes in the newest version of the fiscal plan are the phasing-out of the per vote subsidy.

The government says $30 million will be saved annually when the subsidies are completely eliminated, and the dedication of $2.2 billion to Quebec for a yet-to-be-signed Harmonized Sales Tax (HST) compensation agreement.

The government has promised to eliminate the federal deficit by 2014-15. In tabling the budget, Flaherty warned that government programs will need to be cut to balance the budget.

However, the budget did not make it clear which programs may be up on the chopping block.

One area that will not be affected by cuts, however, is transfer payments. Leef said this is good news for Yukoners.

"When I look at the broad plan, Canada's Economic Action Plan, I'm seeing big, big reference to the Yukon,” he said.

Leef said there are some "great health incentives coming, directed right at the Yukon.” Some tax credits, such as those for children's arts and sports, will have big benefits for Yukoners as well, he said.

"Those will be things that Yukoners will notice on their taxes at the end of the year a little bit more, because of our high cost of living,” he said.

"Although it's not a tax break geared for northerners, on average, we're paying more for arts and cultural activities, for sports activities, and, heck, even food at the grocery stores and gas at the pumps.”

Arthur Mitchell, leader of the Yukon Liberal Party, believes the budget contains some benefits for Yukon — as long as the federal government follows through on its commitments.

Mitchell said today he believes the government's plan to invest in green energy and climate change research could have benefits for the North. So could the decisions to provide tax credits to volunteer firefighters and forgive student loans for doctors and nurses who practise in rural communities.

However, Mitchell said, the budget raises important questions.

"For me, it's not just about what's in the budget — it's about what's not in it,” he said in a release. "The federal government has committed to cutting over a billion dollars this year alone, but it hasn't stated where it will be making these cuts.

"In Yukon, government jobs are important and Yukoners want to know that their jobs are safe. The federal government needs to promise that Yukoners jobs will not be on the chopping block.”

Mitchell said he is also concerned about Ottawa's commitment to sustainable health funding in the territory. He urged premier-designate Darrell Pasloski to move quickly to negotiate a new health accord between the territory and the federal government after he takes office Saturday.

Not everone is concerned, however. Leef said the budget shows Prime Minister Stephen understands that while the Yukon may have a small population, "we contribute greatly to Canada's identity and Canada's economy.

"The Conservative government has made (the Yukon) a cornerstone of their plan from the beginning,” he said.

Coming up, the new MP plans to go through the budget's line items, looking at which programs are "core and essential to Yukoners” and how they have been affected by the budget.

He also plans to hear from groups and individuals regarding how the budget affects them.

Leef isn't expecting taking a fine-toothed comb to the document to be a quick process, however.

"It's not going to be a one-day process, I can tell you that,” he said.

See Leef commentary and related budget story.