Mahsi, Mr. Speaker. We are fortunate in the Northwest Territories to have an abundance of natural beauty and natural resources. The challenge that we face on a daily basis is how to manage these.

Some 10 years ago, Members of this House had the fortitude and the foresight to see that we must receive a greater benefit from these resources. Specific to that issue, Mr. Speaker, was the diamond resource. Who would have thought that, 10 years ago, Yellowknife would be the diamond capital of North America today with a world-class cutting and polishing industry developed here employing about 160 people and worth an estimated $9 million to our economy? Certainly not the Ottawa bureaucrats or the multi-national companies of the day, Mr. Speaker. It was the leadership of this House that saw these developments take place in the cutting and polishing industry. Surely 10 percent by value of their production was not too much to ask from the companies that were exploiting and profiting from this tremendous resource.

With the unveiling of the National Diamond Strategy, the Northwest Territories is continuing to demonstrate its leadership in this industry. The development of a strategy, of course, must continue to recognize the central position of the Northwest Territories and Yellowknife to the Canadian diamond industry. An example of this, Mr. Speaker, is our own Aurora College, which has established a Diamond Cutting and Polishing Program, recognized with a recent new national award for outstanding innovation and education.

We are beginning, too, Mr. Speaker, to realize the untapped opportunities that the diamond industry offers to tourism. Another added benefit is that aboriginal governments have concluded socioeconomic agreements that bring employment and education as well as economic opportunities to their regions, but these are insignificant benefits, Mr. Speaker, compared with the astonishing profits and royalties that are streaming out of the Northwest Territories.

Is it correct to say that four percent is not enough? Are those royalties to come to the Northwest Territories? Or is it better to say that 96 percent of these royalties and taxes going to the federal government is unfair?

Mr. Speaker, I seek unanimous consent to conclude my statement.

Speaker: MR. SPEAKER

The Member is seeking unanimous consent to conclude his statement. Are there any nays? There are no nays. You may conclude your statement, Mr. Braden.

Bill Braden

Great Slave

Mr. Speaker, thank you. Resource development in the Northwest Territories must grow and expand in a sustainable and diversified way. If future generations are to have a legacy from these current developments, then this government and this House must continue to show the fortitude and the foresight to demand a devolution deal that recognizes a rightful share of the value staying here in the Northwest Territories. Thank you, Mr. Speaker.

---Applause