Recommendation five is the surplus of assets and/or privatization. The territorial government has a lot of money tied up in its investment in capital assets which are not shown on the balance sheet. For example, it is likely conservative to estimate that the government owns as much as $200 million in staff houses and $100 million in petroleum product tank farms. The government is likely unaware of the current volume of investments in all of our capital estimates. On the other hand, the capital needs assessment identifies, based on current standards and criteria, capital needs over the next ten years totalling approximately $3 billion. This points out two things: the Government of the Northwest Territories cannot afford its current capital standards; and we must get creative to meet our realistic needs within the current restraints. Where will this funding come from, we ask? Current Standing Committee on Finance initiatives include working on attracting offshore investment, establishing a heritage fund, a one-time investment of capital dollars and innovative ways to increase tourism and revenues by legalizing some forms of gaming in the north. There are other potential resources, these include: selling surplus assets; encouraging government staff house ownership; privatizing the petroleum products division; and accessing federal programs such as assisting native people with funding applications for the relevant business opportunities under the Canadian Aboriginal Economic Development Fund.
John Todd on Committee Motion 4-12(3): To Adopt Recommendation No. 4
In the Legislative Assembly on November 20th, 1992. See this statement in context.
Committee Motion 4-12(3): To Adopt Recommendation No. 4
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
November 19th, 1992
Page 48
John Todd Keewatin Central
See context to find out what was said next.