I wholeheartedly endorse the earlier comments of the Member of Weledeh, and I'd like to follow up on his statement. Consider us a tag team, if you will, at a wrestling match.
This question is addressed to either the Minister of Finance or the Minister of MACA, as they choose.
Considering the huge impact on our environment that abandoned mine sites have and considering the financial impact that mine cleanups have on the government’s financial bottom line, why do we not yet have a legislative or regulatory mechanism in place to ensure financial security for the G.N.W.T. in respect to mining and other land leases?
I'd like to remind Members to direct their question to one Minister, and then it will be up to the Executive to decide.
I will go to the Premier, Mr. Roland.
Thank you, Mr. Speaker.
I’m looking for maybe a bit of clarification on whether it’s in the area of securities or a taxation system on leases. For example, on the taxation side of leases outside of municipalities, on Commissioner’s Land, we are looking at what we call PATA, and that is the Property Assessment and Taxation Act. We're looking at that for review during the life of this Assembly, to bring it back with potential changes that may be able to incorporate that piece of it.
There are other sections, within our jurisdiction or the federal jurisdiction, that attach costs that have to be set aside in trust funds, for example, for that type of remediation. And yes, we have learned from the past: for example, the Giant Mine, where we have now had to book some liability, along with the federal government, in those areas.
Thank you, Mr. Speaker. My apologies for my previous misstep.
The reference is to the Commissioner’s Land Act. It’s not the Property Assessment and Taxation Act to which we refer.
Mines without financial security are often abandoned, and the cleanup then reverts to either the federal government or the Territorial government. Giant Mine is, unfortunately, an excellent example.
What is required is a small change to the Commissioner’s Land Act to require companies that are leasing land from G.N.W.T. to provide financial security. This change can be a huge motivator to industry to respect the environment.
When such a small change can have such a big effect, can the Minister advise when the security will be put in place through an amendment to the act? We have three years, or a little bit more, left in our reign. Let’s get it done.
I'm aware that the Department of Municipal and Community Affairs has, in fact, looked at the specific piece and has reviewed a draft, so that work is underway. They would be prepared, once they’ve come up with a draft, to sit down with Committee at the appropriate time.
That's extremely good news. I like to hear that.
I would ask the Minister if he could provide us with some kind of timeframe. Are we talking six months, are we talking a year, are we talking four years, or are we talking the next Assembly?
One of the works we look into, as an overall government, is the legislative agenda, and seeing what, on that agenda, is a list of priorities. The Government House Leader has been pulling that together and shared a version of that with Committee and would seek input as to whether we should continue to pursue certain initiatives or add some of them. It includes timelines.
I’m also aware that a specific piece MACA is working on is dealing with all commercial leases — not just for mining, but all across the Territories.
