Sept 28th:  Overheated.  Overheated.  Overheated.  Frankly speaking, Dennis Fentie has no economic background and as such has shown that he does not fully comprehend modern Budget vocabulary and structure nor a Budget's ramification on the Economy

In taking tons of money from Ottawa, it was incumbent on the Premier (as Finance Minister) to spend it wisely and timely.  He did neither.  The Leg' will deeply miss the tallies by Klondike MLA Peter Jenkins of millions upon millions wasted by YTG in the current mandate and brought to light by the former YP Cabinet Minister.  Much hidden in legal and consultant fees and subcontracting.

In yet to be released figures, Statistics Canada will shortly reveal that the Yukon economy grew at 7.8% in 2005 and our GDP is now $1.522-Billion.  3%-4% is considered prudent.  And this up from 6% in 2004.  By asking the Fed's for a ton of money and not spreading it wisely, the Yukon paid a heavy price in terms of shortages of building lots, YESAB delays, high construction costs on infrastructure projects, etc etc.  In short, we grew too fast.  The new money and prosperity brought an end to the falling population and we have seen on average, twenty new families come to the Yukon ... mainly Whitehorse.

At the same time, NIMBY (not in my back yard) forces were delaying or outright road blocking new residential development.  The net effect was that our convention of having a two year supply of building lots in each of our communities quickly evaporated.  Home prices took off.  And tomorrow it will be "rents" that follow.  Excessive inflation that is not sustainable.  When the cost of living gets out of whack like this, young families cannot stay.  Our College and University students now Outside may not come home.  They know that Yukon wages have not risen with the cost of living here.

Read the Fentie Budgets.  Don't listen to his two hour twenty minute speech.  Unlike almost every other modern day jurisdiction, Fentie does not address traditional economic factors.  While he does incorporate a five year forecast of the numbers, his Budget document is simply the release of financial statements.  He does not address Yukon Inflation forecasts.  He does not address the Yukon Unemployment Rate.  Nor GDP.  Nor sector ramifications, shortages and surpluses.  Nor welfare numbers or housing shortages.  Not affordable housing nor social housing.

Plainly speaking, Dennis Fentie is an economic neophyte driving blind.  He is single-handedly overheating the Economy with no concept of the short, medium or long term ramifications.  And we are left with outrageous real estate prices and shortages of skilled labour.  And when they say "what goes up must come down" ... they mean RECESSION.  The present Budget team is Dangerous to the average Yukoner.  The Legislature needs a team that understands these factors and includes an Economic Statement in the Budget.  Same as everybody else.  The Yukon should not be run by cowboys...

Freddy H>  634.2266