Territory plans to create permanent fund

Posted: Friday, April 06, 2001

WHITEHORSE, Yukon (AP) -- The Yukon will be getting a $42 million windfall from the Canadian government, some of which it plans to deposit into an Alaska-style permanent fund.

The Yukon receives money from the Canadian government each year under a formula financing funding arrangement.

Yukon Premier Pat Duncan said the territory has been underpaid since 1996, creating the windfall.

At least $10 million of that will be going into a heritage fund for the territory.

The government will be asking Yukon residents for their ideas about how the money should be spent, Duncan said.

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