Thank you, Mr. Speaker. My questions, probably not surprisingly, are for the Minister of Finance today on his statement earlier today in the House. I’m wondering how the Minister can book $120 million in resource revenues in 2014-2015, $15 million for Aboriginal governments as 25 percent of our net fiscal benefit and refuse to commit 25 percent to the Heritage Fund to a more distant fiscal year? Mahsi.
Thank you, Mr. Bromley. The honourable Minister of Finance, Mr. Miltenberger.
Thank you, Mr. Speaker. In both the case of the Aboriginal governments and the Heritage Fund, the money is not expected to flow into our coffers until late in 2015, at which time we will honour the commitment to put in 25 percent into the Heritage Fund. Thank you.
I didn’t hear an answer there, but I’m not surprised at that either, I guess. The Minister has repeatedly claimed that 5 percent of the Heritage Fund was part of this budget, yet less than 1 percent – it’s a very small fraction of 1 percent – is actually budgeted. What gives? Mahsi.
The key issue with the Heritage Fund has been the political debates over the amount that goes into the Heritage Fund. We came forward with 5 percent. We’ve had the debate. Clearly, the money is not going to flow into our coffers where we’ll actually have the cash until 2015, but the critical decision as a government was what we are going to put in, as a Legislature, what we are going to agree to earmark to go into that Heritage Fund. If we would have waited until next year, then the 5 percent in the budget would have gone into the fund. So there was a need to have that political debate, even though the money isn’t going to flow until some months hence. This was the first opportunity to clarify that and we’ve done that.
The point is that the Minister has booked the revenue. He’s booked the allocation to the Aboriginal governments and he has not booked the dollars to the Heritage Fund. We want that done this fiscal year. We know that the dollars flow later, and by delaying it another year, guess what. It delays the dollars into the Heritage Fund another year. Not acceptable.
I assume the $120 million booked in the budget as resource revenue royalties is an estimate. Why don’t you, again, at least book the estimated 5 percent as per your repeated claims that 5 percent was being booked this fiscal year.
The intention was to have that number reflected in the 2015-16 budget when we had the number. We’ve committed to the 25 percent and we will honour that and we will put it in as soon as we get the money. That will be reflected clearly and accurately in 2015-16. Thank you.
Thank you, Mr. Miltenberger. Final, short supplementary, Mr. Bromley.
The Minister has budgeted us into an untenable situation where he claims we have to spend almost all of our children’s inheritance in 2014-15.
How will the Minister adjust our budget to ensure 25 percent of the net fiscal benefit in 2014-15 can be booked into the Heritage Fund as per the will of our public and this House? Mahsi.
Our plan is clear. I have laid it out. We’ve agreed to the adjustment of 25 percent. That money will not be available to us as a government until late 2015. We will book that money. We will agree to the 25 percent on an ongoing basis. We will book that and have it reflected in the 2015-16 budget. Thank you.
Thank you, Mr. Miltenberger. The honourable Member for Hay River North, Mr. Bouchard.
