Floyd Roland

I take the Member’s comments. As we go forward, we will be sharing the information and building into the business plan process on the initiatives we set forth as government and how we are going to save the next $20 million. Thank you.

Thank you, Madam Chair. We are a little bit better than middle of the pack, when you take a comparison to other jurisdictions. There is one at 4.5, one at three percent, and we're at four. I think there are only actually three lower than us in the small corporate tax area. I'm corrected: two. So we're third lowest in the small corporate tax area. Thank you.

Thank you, Mr. Chairman. I am unable to speculate on the matter of what we are looking at in the future in timelines. I am unable to do that at this time. Thank you.

Thank you, Mr. Chairman. Mr. Chairman, I thank the Member for his comments. The discussion about alternatives is something that as a government we will have to look at to see how we can stimulate growth in a way that still protects our base. So there are initiatives looked at, the suggestion is made, we've already started to do some work to see where we can go as a government in those areas. Again, it's critical that because we're a small jurisdiction with a very small tax base, we will have to look carefully at the impacts not only through the effect of the formula, but just on the base...

Thank you, Madam Chair. To my immediate left is justice representative Rebecca Veinott; to my immediate right is Deputy Minister Margaret Melhorn; and further to my right is Mr. Gerry Gagnon, director of tax policy.

Thank you, Mr. Chairman. Mr. Chairman, this situation started back in January 2000. The Federation Franco TeNOise filed a lawsuit in the federal court claiming that the GNWT, the Legislative Assembly and the Official Languages Commissioner failed and continue to fail delivery of services in French at a level adequate to meet its alleged obligations under the Charter of Rights and Freedoms. So that is what started this process. To date, including what we have estimated for 2004-05, we are looking in the neighbourhood of just over $800,000. Thank you.

Thank you, Mr. Chairman. To my far right is Mr. Gerry Gagnon, manager of tax policy; to my immediate right is Ms. Margaret Melhorn, deputy minister; and to my immediate left is Rebecca Veinott from Justice. Thank you.

Thank you, Mr. Speaker. I move, seconded by the honourable Member for North Slave, that Bill 1, Appropriation Act, 2004-2005, be read for the third time. Thank you, Mr. Speaker.

Thank you for the opportunity to present Bill 2, An Act to Amend the Income Tax Act.

Two weeks ago, in my budget address, I announced increases to personal income tax rates for higher income individuals, an increase to the corporate income tax rate for large corporations, and an increase to the payroll tax. The bill before you is necessary to implement the first these measures. Bill 2 would increase our corporate income tax rate for large corporations from 12 to 14 percent effective January 1, 2004.

This measure will be effective in 2004. Because of this, we need to advise the federal...

Thank you, Mr. Chairman. Mr. Chairman, there's a potential that there could be a further supp as a result of accruals. So it wouldn't be actual past expenditures, but because of accruals if there are some changes there, that would be the reason we potentially could have a further one going forward. Thank you.