Thank you, Mr. Speaker. Mr. Speaker, Cabinet is unable to support Bill 29. This bill proposes to amend three pieces of land and resources legislation. However, to date, there's been no consultation with Indigenous governments, industry, or the public on proposed amendments. Provision of the three acts without engagement does not align with the public's expectation of how the Government of the Northwest Territories should operate and is contrary to our agreements with Indigenous governments.
If the bill is referred to a Standing Committee, there will be opportunities for public engagement, but that process does not replace the thorough process that the Government of the Northwest Territories is currently undertaking to address this exact topic as part of a comprehensive policy and regulatory development.
The Department of Industry, Tourism, and Investment is developing the Mineral Resources Act and regulations with input from all impacted parties, including the intergovernmental council, other Indigenous governments, the industry members that bear the risk from information disclosure, and other interested stakeholders.
Included as part of this holistic process, ITI has already begun an extensive review of the royalty regime which will include an examination of the level of transparency under the current regime.
In addition to our concern regarding the process for creating new law in this base, there are practical concerns, including the introduction of legislative changes without an analysis of potential policy implications and the potential efficacy of the changes.
Currently, royalties are reported collectively as an aggregate of revenues received. This information is made publicly available and can be used to understand how royalties impact the NWT fiscal situation.
Confidentiality clauses similar to the NWT's can be found in virtually all Canadian mining jurisdictions. We are not unique in this regard. That said, all extractive sector entities operating in Canada are required to publicly disclose payments made to all of governments under the Extractive Sector Transparency Measures Act.
Mr. Speaker, allowing this issue to remain together with the whole of the Mineral Resources Act to regulatory development is not only more practical and efficient, but best reflects the commitment of this government to meaningful consultation and engagement.
The GNWT is committed to a thorough, fair, and respectful legislative process. This includes respecting the processes and forums we have agreed to with Indigenous governments, including the intergovernmental council, and the continued sharing of information and engagement with the Standing Committee on Economic Development and Environment.
For these reasons, Mr. Speaker, Cabinet cannot support this bill. We will be abstaining from the motion. Thank you, Mr. Speaker.