Previous cap was $750M; finance minister doesn’t expect borrowing spree with higher limit
Nunavut can now borrow up to $1.05 billion. The federal government has increased the territory’s borrowing limit, up from $750 million, Nunavut Finance Minister Lorne Kusugak announced last week in the legislative assembly.
Announcement includes $6 billion for Arctic radar system; $420 million for Canadian Armed Forces; and $253 million in investments for Nunavut infrastructure
Felix Karpik, 8, sits in on the Nunavut legislative assembly proceedings alongside his grandmother, Pangnirtung MLA Margaret Nakashuk, on Thursday. Felix said he liked examining the Speaker’s mace inside the chamber and that he even had the chance to sit in the Speaker’s chair during a midday break. (Photo by Daron Letts)