Thank you, Mr. Chairman. The Standing Committee on Finance reviewed Bill 10, An Act to Amend the Income Tax Act, during its meeting on December 1, 1992. This bill would raise the rate of income tax for residents in the Northwest Territories from 44 per cent to 45 per cent effective January 1, 1993. Mr. Chairman, no one likes tax increases. The Standing Committee on Finance has stated previously that raising taxes is not a solution to the fiscal problems in the Northwest Territories. We must find ways to deliver a government program at cheaper costs. At the same time, the Members are aware that the revenues of this government have been shrinking. Cuts in federal funding for cost-sharing housing programs, the health billing dispute, and the economic climate have all contributed to this. The Members have noted that, even with this increase in rates, the personal income tax rate in the Northwest Territories remains one of the lowest in the country. Therefore, Mr. Chairman, the Standing Committee on Finance agreed at its meeting on December 1, 1992, to recommend this bill to the Committee of the Whole for consideration. Thank you, Mr. Chairman.