Thank you, Mr. Speaker. Mr. Speaker, the federal government has put in place a carbon backstop for jurisdictions that don't embrace their own carbon pricing model. I would like to ask the Minister of Finance if he can speak to ongoing negotiations with the federal government over carbon pricing, and whether or not he has prepared our own carbon pricing model for implementation here in the Northwest Territories. Thank you.
Minister of Finance.
Thank you, Mr. Speaker. Mr. Speaker, we have been working on our own carbon price modelling, and as we all know, the federal government has backstopped. They plan on implementing that backstop if the jurisdictions don't come up with their own modelling, so we have come up with some modelling, and we have updated committee on our approach with it. Once we have our discussions with the federal government, then we will be able to share that information.
The deadline the federal government is calling for is March 31st. Will the Minister be prepared to implement our carbon plan before that deadline?
We are just in the final stages of our modelling. We still need to have discussions with the federal government. Of course, at the end of the day, our goal is to mitigate the impact it is going to have on people in the Northwest Territories. Again, once we have had those discussions, once we have more information to share, we will make it all public because the public needs to know. We can't pre-empt our discussions with the federal government and release it to the public just yet.
I appreciate that we don't want to potentially impact the negotiations that would result in the backstop. I don't support the backstop model. I think we need our own made-in-the-North model. Can the Minister assure us that we will get a made-in-the-North model, and we won't be forced to accept the unfavourable backstop model that is being proposed by Ottawa, unfavourable to people in the Northwest Territories and my constituents?
Well, I can assure the Member and all Members and the public that the NWT government is going to have a made-in-the-NWT approach to it, because we do want to mitigate the impact it is going to have on the high cost of living and doing business in the Northwest Territories. Also, I can add that the Northern Premiers have had some discussions. They all have some concerns with the federal backstop, as well. They have had their discussions, and they will continue to do so. As we move further into the process, I will continue to update committee and update Members of the House.
Thank you. Final question. Member for Kam Lake.
Thank you, Mr. Speaker. I appreciate that assurance. As the Minister knows, the Prime Minister of Canada committed to allow the NWT to keep all the revenues raised from the carbon tax. I have heard the Minister say that there is going to be a program that will mitigate any new taxes that will impact our already too high cost of living, but that other important piece of public policy is leading the way forward to a green economy with renewable energies and less carbon-intensive industry. Is the Minister proposing a carbon plan that will do that as well? Because the only thing I heard in his past statements was mitigating the impacts of this on people's bottom line. That's important, but we also need to grow this economy towards a green, clean energy economy. Can the Minister answer if that is part of the plan? Thank you.
The Member is correct. I mean, we have looked at a number of different options as to how we are going to roll this out. A lot of the feedback we got from the engagement, there were a lot of suggestions in there as to what we could do with the revenue from the carbon pricing. We have looked at a number of different options. I have laid out some of those options to committee. I am looking for some feedback from committee as to our approach going forward, but again, I can assure the Member and members of the public is that our government is doing what we can to mitigate the impact not on the cost of living but on the cost of doing business, and the potential for investments into a greener economy. Thank you, Mr. Speaker.
Oral questions. Member for Yellowknife North.
