Thank you, Mr. Speaker. Yesterday, the Premier as Minister of Industry, Tourism and Investment spoke about the government’s efforts to support the mining industry. My questions about that today: the federal government recently renewed its mining tax credit, but it remains consistent throughout the country. I’m wondering if the Premier has discussed creating a higher credit for the North out of that tax credit and working the federal government to further incentivize the mining industry by expanding that tax credit for the three northern jurisdictions. Thank you, Mr. Speaker.
Masi. Minister of Industry, Tourism and Investment.
No, Mr. Speaker.
Thank you, Mr. Speaker. My followup question would be: could the Minister then work with the Premiers of Nunavut and Yukon to speak to the Prime Minister and advocate for this benefit? The industry has been very clear that they would like to see expanded financial help to getting our resources out of the ground up here and to further expand on exploration activities.
We could. It’s been difficult enough to get the federal government to continue the flowthrough mining tax credit portion, but we could do that.
Thank you to the Premier for his response. Yesterday as well we heard from the Premier that the return on investment for the Mineral Incentive Program is at three to one, which is quite commendable. In a time when we need significant economic activity here, in the North, to get our growth back on track, why have we not invested more resources into this very important program that has such a high return and impact on our economy? It sits at $400,000. In the Yukon, a similar program is at $1 million. Why have we not committed more resources to stimulate our economy directly and create some jobs? Thank you, Mr. Speaker.
Thank you, Mr. Speaker. I think the fact that we’re contributing in the amount of $400,000 is a very fair share. Yukon has had the benefit of devolution for over ten years; we’re just going in to our second year. Thank you, Mr. Speaker.
Masi. Oral questions. Member for Kam Lake.
Thank you, Mr. Speaker. Regardless of the circumstances of the Yukon, I do believe our economy is a few percentage points larger than theirs. At a time when we need economic activity, especially in the mining sector, and this program has a three to one return on investment, I’d like to see more resources put into this thing. I’d very much like to see the Premier commit to expanding on this program. If he could make such commitment that would be appreciated, Mr. Speaker.
In the life of the 18th Legislative Assembly that is exactly our plan.
Masi. Oral questions. Member for Sahtu.
