Debates of October 21, 2004 (day 25)

Mr. Speaker, I move, seconded by the honourable Member for Deh Cho, that Bill 16, Northwest Territories Business Development and Investment Corporation Act, be read for the second time.

Mr. Speaker, this bill establishes the Northwest Territories Business Development and Investment Corporation. The purpose of the corporation is to support the economic objectives of the Government of the Northwest Territories by encouraging the creation and development of business enterprises and by providing information and financial assistance to, and making investments in, such enterprises. This bill also repeals the Northwest Territories Business Credit Corporation Act and the Northwest Territories Development Corporation Act. Thank you, Mr. Speaker.

Thank you, Mr. Bell. The motion is in order. To the principle of the bill. The honourable Member for Yellowknife Centre, Mr. Hawkins.

Thank you, Mr. Speaker. I rise in support of the principle of the bill. I’d like to see the fact that this bill helps to redefine how we deal with things. Mr. Speaker, the old bill dealt with confidentiality, as rumoured, being told, as the bank-of-well-connected. I hope this new bill brings forward better rules for better disclosure and I look forward to that.

Mr. Speaker, the business development fund was set out to help business and I’m glad that this is being updated and replaced. But when I read the report we see $100,000 in a way of being treated as a travel agency, not to business development. Mr. Speaker, I see it as not a recovery plan, I see it not to save businesses from lost revenue or outstanding fees that they couldn’t pay, I see it as supporting businesses to help them with tools. In principle I want to say that this new bill brings forward those types of initiatives to help support businesses. So I support the bill in principle and I look forward to the open discussion we will have once it’s on the road. Thank you.

Thank you, Mr. Hawkins. To the principle of the bill.

Question.

Question has been called. All those in favour? All those opposed? The motion is carried.

---Carried