Thank you, Madam Chair. I have a motion. I move that, in future, the public accounts include a detailed explanation of how the Government of the Northwest Territories has performed for that fiscal year in relation to the Fiscal Responsibility Policy.
Thank you, Mr. Dolynny. The motion is in order. To the motion. Mr. Dolynny.
Thank you, Madam Chair. As I mentioned in my earlier comments today here, the Fiscal Responsibility Policy is very specific in how it deals with surplus, and clearly, this government has had surplus in years past, in some cases we’ve had substantial surplus, and that surplus has to follow within their own policy called the Fiscal Responsibility Policy, which states 50 percent of that is put into operation surpluses for infrastructure and 50 percent, roughly, goes back to short-term and long-term borrowing. I’m just kind of summarizing it in basic terms.
The concern committee had is we don’t know roughly where that surplus is indeed applicable, because the term of debt becomes the question. Is this debt new debt? Is this new debt for infrastructure or is this old debt, and are we actually physically paying down old debt which would really, when you look at the framework around the policy, it is definitely leading credence to. So committee had a grave concern as to whether or not this policy is as transparent as it can be. Quite frankly, that is the question at hand within the motion. We’re hoping that with future public accounts that the Fiscal Responsibility Policy is clearly articulated within the public accounts or in an addendum to which will actually break down what indeed is done with that surplus and how it is spent. Thank you, Madam Chair.
Thank you, Mr. Dolynny. To the motion.
Question.
Question is being called. The motion is carried.
---Carried
Mr. Moses.
