Thank you, Mr. Speaker. For four years, the regular Members of the 18th Assembly made repeated calls for the Minister of Municipal and Community Affairs to develop a strategy to address the municipal funding gap. That report was quietly tabled on the final day of the final sitting of the 18th Assembly, which prevented any public discussion. This is not surprising, Mr. Speaker, given how dire the findings are. On page 12, it states, "In 2019, the full cost of basic infrastructure has increased to $2.9 billion with an investment of $69 million needed annually." It went on to say that, "The total annual funding deficit for community governments is approximately $24.5 million."
The funding MACA provides accounts for up to 90 percent of community government revenues. The extreme funding shortfall leaves community governments to choose between allowing assets to age into disrepair or pass the cost to residents. If the City of Yellowknife chose to address their $11.5-million funding gap by raising taxation revenues, the property taxes of every land owner would skyrocket, making the capital an unaffordable place for all but the wealthiest to live.
Mr. Speaker, the government's mandate commits to closing the community funding gap by $5 million over the life of this government. At that rate, we may never close the funding gap; that barely keeps up with inflation. The funding proposed in the mandate is equal to a little over $37,000 per year per community. This means communities will continue to be underfunded by this government to the tune of $20 million a year for the next four years.
Closing the funding gap would satisfy not one, but two of the priorities of our government. According to the Conference Board of Canada, closing the funding gap would create an additional 220 additional jobs per year in infrastructure construction, environmental services, municipal government services, and infrastructure repair. Direct and indirect multipliers of employment through millions of dollars of investments at the municipal level equate to 13 jobs, whereas $1 million of investments at the territorial government level equates to seven. By accomplishing one priority, we actual satisfy two: if we close the funding gap, we create jobs in small communities.
In MACA's report, the Minister states, "I want to acknowledge that we are unable to definitely answer when and how the funding gap will be closed." It took the department four years of study to reach this conclusion. This is not acceptable, and it is not sustainable. Thank you, Mr. Speaker.