Government of Yukon

03/28/2024 | Press release | Distributed by Public on 03/28/2024 17:14

New fund to benefit generations of future Yukoners

Published 28/03/2024

Today, Premier Ranj Pillai announced the Yukon Fund, which aims to provide long-term financial benefits to future generations of Yukoners by harnessing revenue from historic oil and gas activities in the Beaufort Sea.

The funds come from the 1993 Canada-Yukon Oil and Gas Accord, where the Government of Canada committed to provide future offshore revenues to northern governments. The recent signing of the Western Arctic-Tariuq (Offshore) Accord brought agreement on a revenue-sharing formula allowing Canada to release the funds. The amount the Yukon will receive is subject to ongoing negotiations.

The Yukon Fund will be designed with an eye to the future and is a way to recognize the territory's 125th anniversary by planning for the next 125 years.

Work is underway to outline how the fund will be managed. The Government of Yukon will continue to share details about this initiative once the technical work is completed. The Government of Yukon will engage with Yukoners as part of this work, including the vision for the Yukon Fund and how its benefits will be shared with Yukoners.

Our government is committed to ensuring Yukoners benefit from our natural resources. This is an exciting initiative in our vision for the territory's future and another of the many ways we are celebrating the Yukon's 125th year, which continues until June 13. I look forward to sharing more information as we complete the technical work on this fund.

Premier Ranj Pillai

Quick facts

  • Funding included as part of Budget 2024-25 is subject to legislative approval.

  • The Government of Yukon symbolically allocated one dollar to Budget 2024-25 to establish the fund.

  • The Yukon joined Canadian Confederation on June 13, 1898. This year marks the 125th anniversary of the territory.

  • The Government of Yukon is commemorating Yukon 125 until June 13, 2024.

Media contact

Laura Seeley
Cabinet Communications
867-332-7627
[email protected]

Diana Dryburgh
Communications, Executive Council Office
867-332-9283
[email protected]

News release #:
24-154