Mr. Speaker, in my Member’s statement I talked about the mechanics of the Heritage Fund. I want to ask the Minister of Finance, within the life of this government, will the government consider an option to look at considering having an independent body type of framework to manage the Heritage Fund?
Thank you, Mr. Yakeleya. The Minister of Finance, Mr. Miltenberger.
Thank you, Mr. Speaker. The establishment of a Heritage Fund has been a long process going back to the last Assembly, and we started with the legislative proposal to get the legislation passed. We got the legislation passed in anticipation of the day when devolution would come. In the meantime, we started putting in a very modest amount of money, a quarter-million dollars a year, seed money, as it were. We’ve always contemplated, and it has always been anticipated that as the fund devolves as we hit devolution, and as the money starts being put into the Heritage Fund, and as it grows in critical mass it will need to evolve in terms of how it’s managed.
All the issues raised by Members in terms of the lending criteria, what’s the governance model, initially, in the start-up phase it has been looked after within government by the FMB, which has allowed us to get up and running, and we’re still in very early stages, but that discussion has already been acknowledged that we’re prepared to take part in that. Whether we are going to be in a position to set up a major governance oversight structure in the life of this government to look after a relatively small amount of money has yet to be determined, but we are definitely going to be moving that way once it is set up and fully operational. Thank you.
Within the life of this government, would the Minister look at a discussion paper where he could bring forward to the Assembly to say where we could start having discussion on the Heritage Fund and the government framework for the fund? Thank you.
Mr. Speaker, we would be glad to pull together a document that lays out issues to be addressed in the coming months and years as it pertains to the Heritage Fund as it moves ahead. Thank you.
Thank you, Mr. Miltenberger. Final supplementary, Mr. Yakeleya.
Thank you, Mr. Speaker. Would the Minister say that it will be within a year, within a few months shy of us calling our next election? Thank you.
Yes, we will endeavor to have a document on the books within the timelines outlined by the Member. Thank you.
Thank you, Mr. Miltenberger. Member for Nahendeh, Mr. Menicoche.
