Mr. Speaker, in accordance with the terms of reference, the standing committee on finance has met several times during this session. We are pleased to provide the House with a summary of our discussions. The committee agreed to allow the chairperson and deputy chairperson to review the staffing needs of the committee over the next four years and provide recommendations on whom the committee should hire.
Preliminary discussions were held on the priorities and directions of the committee. The committee has agreed to hold a workshop in the new year to set definitive priorities and objectives and to identify areas of concern that the committee will focus on over the next four years. After we have had this workshop, we will report at the appropriate time.
The committee was informed that a request had been forwarded to the Government Leader asking that ordinary Members be consulted in the capital planning process. The committee fully supports the wishes of ordinary Members to have meaningful input into the formulation of the capital budget and recommends that the Executive Council consult with all ordinary Members during the capital planning process to ensure that the needs of all regions are fairly represented.
The committee also met with the Minister of Finance and his staff on several occasions to discuss a variety of matters. The Minister provided the committee with informative briefings on the fiscal framework of the GNWT and the "Strength at Two Levels" report. New Members were provided with a briefing on the budget process and it is hoped that a further briefing on the formula financing agreement will be provided in the near future.
The committee and the Minister of Finance also discussed the timing of the 1992-93 budget in some detail. The traditional time for the standing committee's review of the budget documents is November and December. This timetable has already been pre-empted because it is an election year and there were changes in government. Given the difficult economic times we face, the Minister requested this review be delayed even further to allow sufficient time to develop a new budget.
The committee recognizes the problems facing the Minister and the new Executive Council in developing and introducing a new budget. The committee wished to balance the Executive Council's need for time to do a proper job in the development of the budget and the need to ensure that the budget be brought before the committee and the House in time for full and comprehensive review.
The committee has tentatively agreed to review the 1992-93 capital budget at the end of January and the 1992-93 operations and maintenance budget in early June, subject to approval of the House.
The committee reviewed the Supplementary Appropriation Act, No. 2, 1991-92 and the Borrowing Authorization Act during its meetings. The committee was particularly concerned about the lack of time it had to review these bills. They were received by the committee only two days prior to its meetings. In future the committee will expect these bills to be received in ample time to conduct a full and comprehensive review. It is hoped that the new legislative process will ensure that this occurs.
Mr. Speaker, the committee appreciates the patience that our colleagues have displayed in the recent weeks, in particular myself. All but two of our Members are new to this House and we are only beginning to understand the full extent of our responsibilities. We look forward to meeting the challenges of our responsibilities to ensure the sound financial management of this government.
Motion To Adopt Committee Report 4-12(1): Report Of The Standing Committee On Finance, Carried
I move, seconded by the honourable Member for Yellowknife Centre, Mr. Brian Lewis, that the report of the standing committee on finance be received and adopted. Thank you, Mr. Speaker.