Caroline Wawzonek

Thank you, Madam Speaker. Madam Speaker, I'm not good to providing a prediction here today. I certainly can say the Department of Finance is monitoring this. I know the Bank of Canada just put out their most recent monetary policy. And certainly I know I'm reading those documents, and our department's staff and fiscal policy are also reading those materials and keeping an eye on what is happening. But I think really where I want to go, Madam Speaker, in responding is to reassure that in that monitoring that we are doing so not just as an academic exercise. We're doing that so that we would be...

Thank you, Mr. Chair. So there is within the fiscal responsibility policy, a two year period so it's not necessary it doesn't line up there is kind of a grace period where if there is an event such as, you know, what we all hope to be a once in a lifetime flood that in those circumstances, we would see that you do get a bit of room. We get these two years where the deficit that we're running now we can catch up on. And so with that also said, the operating deficits, the surpluses aren't necessarily we need to actually see where the actuals land to see just what level of compliance we have...

Thank you, Mr. Chair. I think I'm going to start I want to say I'll start at the back end of the questions first. With respect to any greenhouse gas reductions that are perhaps, you know, our hope to flow from projects, obviously it is, you know, an unknown at this point what would necessarily be the actual final changes to greenhouse gas emissions and there could be other factors at play in that regard such as, you know, weather or other reductions that might be taking place for other reasons associated. Now that said, as to the timing, it's just to be to be certain, these projects where...

Thank you, Madam Speaker. Madam Speaker, there's not a formal plan or policy or strategy around responding to insurance costs. Insurance costs are something that arises as a result of private market factors. And unfortunately, the Northwest Territories does face higher premiums generally. We have a smaller population over which the industry can spread its risk out. There's, you know, obviously remote location. There is the factor of the types of building materials that are used when we're dealing with capital insurance or capital products and assets, houses. And the fact is there's often...

Thank you, Mr. Chair. So there will be well, depending on what the surplus our operating surplus position is, we were, you may recall, forecasting at one point a fairly significant operating surplus. So that is the first piece that it gets taken from, is what would have been an operating surplus will now likely not be and anything beyond that would increase our debt. We'd be taking on debt in order to ensure that we can meet those cash obligations. Thank you, Mr. Chair.

Thank you, Mr. Chair. Mr. Chair, there's I mean, there's different reasons that would attach to different individual projects, but fundamentally what we've asked departments to do was to look at the state or the progress of an individual project and determine whether or not the project would being proceeding in this specific fiscal year, and if not, that's when you would make an adjustment. And rather than waiting until the end of the fiscal year and having it all come forward next spring, this by doing it now just, you know, again allows better reporting back to the House and a better plan...

Thank you, Madam Speaker. Madam Speaker, I certainly would consider that. And Madam Speaker, I just wanted to acknowledge that, you know, it's thanks very much to the ideas presented by committee that the department can go back and take some time and see if there are other ways to try to mitigate the increases to the federal carbon tax. One being a tiered system by region but at the same time looking at, you know, that as I said earlier, home someone who owns their home, someone who doesn't own their home, even within a region, there's going to be differences in what someone pays. So we do...

Thank you, Mr. Chair. So the money that is being sought for appropriation here is for up to 20222023 or, well, for this year in terms of what we are anticipating. Certainly, obviously can't see into the future of what might happen in the spring and would certainly note that this doesn't account for whatever amounts we may then ultimately get by the federal government under the disaster assistance policy. We certainly are hopeful of an advance and then ultimately hopeful to see a full 90 percent coverage. But neither the first of those might arrive this fiscal but it may well be that it's not...

Yes, please, Mr. Chair.

Mr. Chair, let me turn that to Mr. Courtoreille who I expect will have the most up to date numbers.