Floyd Roland

Mr. Speaker, one thing we have to realize is that this opportunity fund is not grant money. It is money that has to be paid back to the federal government, so due diligence on any proposal will have to be done. The Minister is working on a package. He will be coming forward with a package. Let’s be clear. In using this one company in talking about it, being it is from southern Canada, Denendeh Helicopters, Deh Cho Regional Helicopters, Sahtu Helicopters, Gwich’in Helicopters, Highland Helicopters, Tli Cho Helicopters, Colville Lake, Fort Good Hope, Wrigley, Deline, Tli Cho Air, Lutselk’e Air...

Mr. Speaker, the fact that there are quite a number of programs that are already being delivered by the Government of the Northwest Territories through a business development investment corporation that lends money to companies for $2 million and under. The Opportunities Fund that has been in existence for quite a number of years looked at $2 million and over. In fact, the Minister of ITI is looking and has, in fact, brought a paper forward to revise that policy. Thank you.

The fact is myself and the Finance Minister will be prepared to sit down with Members before we start the actual business planning process to give an update on where things are, where the dollars are, the impact on the Northwest Territories and the changes we will have to look at going forward as we look at those potential impacts that might be felt here in the Northwest Territories.

When the Member says “they,” let me remind him that we all had a say in the budget process itself. In fact, some of the targets not met were directed by the Assembly as we looked at how we were going to live within our means.

The goal is that we’re still going to live within our means. The Minister of Finance has had his staff reviewing and keeping an eye on the situation. We will continue to work with the Premiers across the country to ensure that we’re kept in the loop and work with them on any initiatives that come forward. We’ll always be happy to report that to Members.

Mr. Speaker, as we go through our process, first and foremost between me and the Finance Minister, we’ll be making presentations to the standing committees as we go into the business plan process. Following that, departments themselves, specifically as the Member has touched on…. On the petroleum side the Department of Public Works and Services would have all the information on how they’ve had to deal with the pressures they’ve had to look at.

Part of the problem — and the Member has touched on it, in a sense — is that when we purchase our product, we are purchasing it off the market. At the...

Mr. Speaker, earlier today there was a similar question, and my response was that the Department of Finance is involved in monitoring, looking at the environment we are in and preparing to make a presentation on the status that we are in here in the Northwest Territories. For the record, the Yukon is putting a deputies’ committee together to do their work, not a round table — a deputies’ committee to do the monitoring. Our Department of Finance is doing that work for us.

Every year we as a government do a full review of our planning, expenditures, reductions and where investments should occur. That occurs on an annual basis. As we prepare for the next slate of that, which we’ll be bringing to Members, that information will be pulled together. For example, were our estimates on corporate taxes on the mark or were they off? Were there adjustments? Payroll tax, personal income tax, all of those things we build on estimates, and they’re proved out if our numbers are good or not. Later in the year we get the results back from the federal government. That’s all part...

The fact is that the Finance Minister is on the situation, looking at it and having his staff do the review. In fact, he’ll be updating us here in the next few days as to some of the impacts and updates from the fiscal situation that we’re looking at.

Mr. Speaker, a number of departments have functions established that allow for public input. I know that within the Department of ITI the Minister responsible has an economic table advisory group that he can go to in these times. The Minister of Finance has gone out with a discussion paper about revenue options and got much feedback about that. Much of the feedback is coming as of late with the impacts that are being felt by individuals and companies as a result of the economic turmoil we are facing globally.

Myself, I have met with, for example, the president of the NWT Chamber, the president...

Mr. Speaker, we had an opportunity to meet with the presidents of the diamond mines over a week ago to touch base with them and look at setting up a cooperative agreement on further initiatives we can jointly work on; for example, establishing the workforce in the Northwest Territories by reducing the fly in/fly out component, looking at additional training areas. That’s something we’re working on.

The other area with the mines that they’ve shared with us is that the cost of fuel has a big impact. They’ve been watching the markets and shared with us their concerns. We know, as well, the rate of...