The territorial Liberals and NDP lambasted the Yukon Party Wednesday after the release of a damning report that says the Yukon’s near-term economic forecast is the “bleakest” of all the provinces and territories in Canada.

The Conference Board of Canada, a think tank that bills itself as “objective and non-partisan,” delivered its fiscal and economic outlook for the three territories Wednesday (see yesterday’s Star).

In it, the board named low commodity prices and and the winding down of operations at Capstone’s Minto copper mine, the only active, large-scale mine in the territory, among the major contributors to the Yukon’s economic woes.

In its report, the board of Canada predicts that the Yukon’s GDP will grow slightly, by 3.6 per cent in 2016, but will contract sharply in 2017, by 7.7 per cent.

“This is where we are after 14 years of Yukon Party government,” Liberal Leader Sandy Silver said in an interview Wednesday afternoon.

“We have the worst economy in Canada.”

The government is leaning on low commodity prices as an excuse for why mining has slowed down in the territory, said the Klondike MLA, and is glossing over its numerous legal battles with First Nations governments.

“These are the serious things that make the industry say, ‘Don’t go into the Yukon right now, because there is contentious relationships among governments up there,’” he said.

“We need to stop fighting the First Nations governments because it’s harming our economy.”

Silver said he’s talked to chiefs, councils and First Nations economic development organizations.

He has found there is significant interest in local mining and resource development – the government is simply going about it in an “antiquated” way.

He pointed to the Kaminak Gold Corp. deal as an example of a positive working relationship between industry and a First Nations government.

In July, Vancouver-based Goldcorp Inc. announced it signed a deal to buy Kaminak and its Coffee gold project 130 km south of Dawson City.

The Conference Board noted the agreement signals Goldcorp’s likely plans to move ahead with the project rather than “sit on the land for years.”

“We had the right people on the ground working with the First Nations and it was moving forward really quickly,” said Silver.

“The company got it; they were working with the First Nation the correct way.

“There’s a way of doing business, and this government currently, they’re not doing it.”

The CBC has reported that the Tr’ondëk Hwëch’in First Nation, whose lands would be affected, is in support of the deal. Chief Roberta Joseph was not available this morning to confirm this to the Star.

Silver also pointed to the government’s surplus, which has shrunk significantly in the last two years, as an example of inadequate fiscal management by the ruling party.

This year’s estimated surplus of $9.48 million is down nearly $58.99 million from the $68.47-million surplus the government boasted in 2014-15.

“You’re basically cutting into your reserves just to keep the doors open,” he said.

Liz Hanson, the leader of the Yukon NDP, said early this afternoon she was not surprised by the Conference Board’s projections.

“Under the Yukon Party watch, and under premier (Darrell) Pasloski in particular, 2013, ’14 and ’15 saw declines in real GDP growth,” she said.

Indeed, the territory’s GDP shrank for the third consecutive year in 2015, according to data compiled by the Yukon Bureau of Statistics.

“We’re lucky that there was some stockpiling at Minto so that it could continue production (this year),” she said.

Hanson said the Yukon Party has “refused to actually engage with and invest in” a diversity of sectors, such as tourism, information technology and renewable energy, to the detriment of the territory’s economic well-being.

“What we’re seeing is when you have reliance on a singular sector (in the Yukon’s case, mining) then you cause a ripple effect throughout the economy,” she said.

Samson Hartland, executive director of the Yukon Chamber of Mines, takes a more optimistic view.

He said the Conference Board’s report doesn’t entirely square with what he’s been hearing from his 400-plus members this summer.

“Our membership has had a busier summer than they had the last couple years, that indicates to us there has been more activity,” he said.

Samson noted that the new, thrice-weekly scheduled flight service between Whitehorse and Watson Lake (see Tuesday’s Star) will be a boon for the exploration industry, as it will expedite the provision of supplies, equipment and bodies to sites in southeast Yukon.

Pasloski could not be reached for comment on the Conference Board’s conclusions either Wednesday afternoon, nor by this afternoon’s press deadline.