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Nunavut to release territorial budget

By The Canadian Press | February 22, 2012

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The Nunavut finance minster is expected to table a deficit budget Wednesday driven by higher costs for social housing. A vacant house in Iqaluit in the Nunavut Territory of Canada on Wednesday, April 1, 2009. THE CANADIAN PRESS/Nathan Denette

IQALUIT, Nunavut - Nunavut Finance Minster Keith Peterson is poised to release his government's proposed budget later today.

The eastern Arctic territory is expected to table a deficit budget driven by higher costs for social housing.

Last year, Peterson forecast a $50-million shortfall in the coming fiscal year.

It's a lingering consequence of a trust responsible for building badly needed social housing underestimating its spending.

Nunavut typically gets more than 90 per cent of its funding from the federal government.

This year's budget also takes place under the threat of a strike from public service unions, who have been without a contract for nearly three years.

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