Thank you, Mr. Speaker. We spent four years talking about the procurement review. We've had a number of recommendations to change the Business Incentive Policy over those four years. So one last time, for the Minister of ITI, will we see any changes to the Business Incentive Policy in the life of this government? Thank you, Mr. Speaker.
Thank you, Member for Yellowknife North. Minister responsible for Industry, Tourism and Investment.
Yes, Mr. Speaker. Yes, Mr. Speaker. Mr. Speaker, all of the proposed revisions that were in the recommendations from the panel are going to be captured in a revision to the BIP. Thank you.
Yeah, thank you, Mr. Speaker. I believe that means we are getting a new definition of a northern business. Can the Minister just confirm that and, if so, what that division will be? Thank you.
Thank you, Mr. Speaker. Yes, that does mean that we are getting a new definition, but sometimes what's old is new again. And so, really, what has happened, and what the recommendation of the panel was, is to go back to an earlier form of definition. So that definition will consider well, and it has to adjust the BIP to the definition of a northerner, what defines someone who's a northern individual. And it's meant now to be for six months of residency, not 12, which is really looking at a way of increasing people moving to the North and opening businesses. We had some instances that came in the course of the review of people saying that they took their business elsewhere because it simply would be too long to be recognized as a resident here. But more importantly, to the point, Mr. Speaker, what we have now, in addition to the existing businesses, where beneficial ownership of 51 percent is considered, we are also now looking at businesses where the if it's a whether, you know, corporation, partnership, proprietorship, where the majority of the employees conduct operations here and there's a Northwest Territories based manager that oversees the operations. That's the change, Mr. Speaker. It really takes us back to what we were in a situation of before. Having gone through it before, we are well placed to know what was working with this old and now old version and what had worked previously. So happy to accept the recommendation of the panel on this. Thank you.
Thank you, Mr. Speaker. I feel quite confident that Walmart does not have the majority of its employees in the Northwest Territories or 51 percent of its owners do not reside here. And just to confirm, does this mean that Schedule 3, the old grandfathered southern businesses, including Walmart, are going to be removed from the BIP policy? Thank you, Mr. Speaker.
Thank you, Mr. Speaker. Mr. Speaker, there will not be any need for a schedule anymore. However, whether the business is on that schedule, and there are a few, will or will now not be under the BIP, Mr. Speaker, they should go through the process if they want to fall under BIP, they should go back I, in fact, just received an email this morning from a northern business but where the owner actually does live across the border, but it's an entirely northernbased business. I would encourage folks now to reach out to their ITI regional offices, let's take a look at whether or not they will fall under this definition. I'm not going to go one by one with them right now here. Thank you.
Thank you, Minister. Oral questions. Member for Monfwi.
