Thank you, Madam Speaker. I have to start off by saying go, Brendan, go!
I would like to congratulate the Finance Minister on the 2014-15 budget he presented yesterday. It’s the culmination of many, many man and woman hours of work across the government, and I look forward to debating the budget in the coming weeks. But there were disappointments in the budget, most notably the lack of any significant new revenues again, and that only 5 percent of our brand new resource revenues will go to the Heritage Fund. It’s not like the Finance Minister and his Cabinet colleagues were never advised that 5 percent was not enough.
Last June this House passed a motion that recommended 25 percent of resource revenues go to the Heritage Fund. On October 28th of last year, I used a Member’s statement to tell the Minister and the public that a minimum of 25 percent of resource revenues should go to the Heritage Fund. Last fall the Minister consulted with residents in 10 or more communities. There are different views of the conclusions of the report from that consultation, but I believe residents indicated that 5 percent to the Heritage Fund was not nearly enough.
The Minister has heard from other MLAs and via committee correspondence that 25 percent to the Heritage Fund is a more realistic and preferred option. In response to oral questions yesterday, Minister Miltenberger said several times, choices had to be made, and he was speaking in relation to the allotment of resource revenues. But when did Regular Members have the opportunity to participate in that choice? To take part in the vote that led to that choice? We didn’t, and that galls me.
All input except that of Cabinet was ignored, and yesterday’s budget planned around 5 percent of the resource revenues going to the Heritage Fund. That decision was made long before any consultation with residents or MLAs took place.
Why bother to consult? Why bother to spend the money to consult? Why bother to give residents and MLAs hope that their opinions matter?
The Heritage Fund was established to capture and hold for our children’s children and their children’s children the revenues from the NWT’s non-renewable resources. When our resources are depleted and revenues from them are gone or drastically reduced, the Heritage Fund will be able to replace some of the foregone revenue. It will allow future governments to continue to provide the needed infrastructure and programs and services to NWT residents.
The difference between 5 percent and 25 percent of our resource revenues is about $9 million. What is so vital in this $1.6 billion dollar budget that demands we use that $9 million now rather than saving it? Thank you.
Thank you, Ms. Bisaro. Member for Inuvik Boot Lake, Mr. Moses.
