‹ Infrastructure

Sure nice to have that $1 billion

June 29, 2013

The mining sector in the three northern territories roils with slowdowns and closures. No worries for territorial governments though, a billion per year (each) federal transfer is secure and underpins the overall economy. Mining exploration expenditures for the three territories will be less than 1/2 the 2012 total of almost $1B.

Meanwhile in the government sector:


The central bankers in the world’s two largest economies, the US and China, have signaled that the ultra-loose monetary policies of the last 4 years may be coming to an end sooner rather than later. Interest rates have spiked and gold/commodity prices have tumbled. Through no fault of their own the territorial economies are facing a bleaker outlook than just 6 short months ago. Good thing that Ottawa is so generous.