Debates of October 21, 2024 (day 30)
Member’s Statement 352-20(1): Fiscal Debt
Mr. Speaker, when I entered this building for the first time in 2003, the debt wall of the territorial government was $300 million. Since then, it's raised 600 percent, Mr. Speaker. Every Assembly that's shown up time and time again has always shown up with their wants and needs, but then now is no different. But at the same time they've always talked about how they want to live within their means. I've yet to see that after successive governments. Yes, enthusiasm can be contagious, a contagious dream, but all I've seen is this so-called live within our means is a chronic failure. Then in May, some hope might have come when we heard the delirious excitement from the Finance Minister about the latest projection of the world's biggest territorial surplus on record, $294 million. What happened? Oh my goodness, Mr. Speaker.
You know, it was all about paying debts, paying capital fully, hopes and dreams abound, Mr. Speaker. But to my surprise -- and I'll frankly say I can't believe I'm still surprised from time to time on some of these issues -- late last week we get an e-mail, practically it's like sliding a letter under our door, waving the white flag and saying we're broke again, we're heading to Ottawa because we need more money. Yet another deja-vu of the Oliver Twist story, Mr. Speaker. It begs the question what happened to the money? What happened to consultation with this side of the House? Does the Cabinet even need us? Well, they went to Ottawa without us; I mean, clearly they see beyond us. You know, Mr. Speaker, where is the proof that they've talked to us and said hey, can we work through things? Consultation with Members late night sending an e-mail is not consultation, Mr. Speaker.
Now, of course, the Finance Minister and the Premier will say well, this is an operational issue, not a political issue. Perhaps if we're talking about office furniture and how you paint your walls. But, Mr. Speaker, when we're saddling the youth of the Northwest Territories a generational debt, it is a political discussion, Mr. Speaker.
So I always been reminded that my Cabinet will be there when they need me hence they're now asking us to suck it up. We can't afford this Finance Minister any longer, Mr. Speaker. Five years of this type of growth, it was a billion dollars of debt while when she entered office, who knows where it'll stop when she leaves?
Mr. Speaker, we need to have a conversation about maybe -- and I stress maybe -- we should do a Cabinet shuffle because this type of moving forward is only going to bless the youth with a debt they will never be able to service. Thank you, Mr. Speaker.
Thank you, Member from Yellowknife Centre. Members' statements.