Mr. Chairman, what is the government's position with regard to the present situation with chartered banks? Is there a position by this government with regard to whether or not we could establish our own financial institution, or give other groups the opportunity to establish a financial institution? There are a lot of communities that cannot access loans from chartered banks because of their status or financial situation or because of where they live. Has this government looked at an institution that is actually owned and operated by the people of the North?
Debates of March 30th, 1992
Topics
Bill 25, Supplementary Appropriation Act, No. 3, 1991-92
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 529
Samuel Gargan Deh Cho
Bill 25, Supplementary Appropriation Act, No. 3, 1991-92
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 529
The Chair Richard Nerysoo
Mr. Pollard.
Bill 25, Supplementary Appropriation Act, No. 3, 1991-92
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 529
John Pollard Hay River
Thank you, Mr. Chairman. There have been discussions with chartered banks with regard to providing financial services in communities and this government subsidizing the bank to provide that service in particular communities. Tomorrow evening, I will be meeting, again, with the co-operatives who are pursuing a financial institution -- a credit union network across the Northwest Territories. As Mr. Gargan knows, there is a suggestion from the Dene reserve in Hay River with regard to a trust company in the Northwest Territories. So, we are looking at a number of aspects.
I believe the former government looked at a treasury branch system for the Northwest Territories and ruled it out as being too expensive. But, I will say that we are painfully aware of the lack of banking services available in communities. We are aware of the problem that Mr. Gargan raises, which is the ability to get a loan when you live in a smaller community which does not have any banking services. As late as last week, I was discussing with one of the banks the requirements paperwise when somebody is applying for a loan. I do not know what the answer is going to be, Mr. Chairman, but we are looking at all avenues to address the critical need for banking services in communities. Thank you, Mr. Chairman.
Bill 25, Supplementary Appropriation Act, No. 3, 1991-92
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 529
The Chair Richard Nerysoo
Thank you. Mr. Gargan.
Bill 25, Supplementary Appropriation Act, No. 3, 1991-92
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 529
Samuel Gargan Deh Cho
I appreciate what the government is trying to do. But the fact still remains, Mr. Chairman, that we do have a lot of chartered banks that are owned and operated but do not really benefit the Territories. All of our dollars are still leaking south. What I hope is that if we were to have a trust company or a credit union that the Minister is referring to that is owned 51 per cent or more by the people, I believe the money would stay in the North. It may open a lot of other opportunities for the communities to get loans in order to establish their own businesses.
Business Development, Total O and M, Agreed
Bill 25, Supplementary Appropriation Act, No. 3, 1991-92
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 529
The Chair Richard Nerysoo
Thank you. Business development, not previously authorized, $1,957,000. Agreed?
Bill 25, Supplementary Appropriation Act, No. 3, 1991-92
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 529
Some Hon. Members
Agreed.
--- Agreed
Total O and M, Agreed
Bill 25, Supplementary Appropriation Act, No. 3, 1991-92
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 529
The Chair Richard Nerysoo
Thank you. Total department, $1,957,000. Agreed?
Bill 25, Supplementary Appropriation Act, No. 3, 1991-92
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 529
Some Hon. Members
Agreed.
--- Agreed
Tourism And Parks, Total Capital, Agreed
Bill 25, Supplementary Appropriation Act, No. 3, 1991-92
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 529
The Chair Richard Nerysoo
Thank you. Department of Economic Development and Tourism capital. Tourism and parks, not previously authorized, $505,000, surplus. Agreed?
Bill 25, Supplementary Appropriation Act, No. 3, 1991-92
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 529
Some Hon. Members
Agreed.
--- Agreed
Total Capital, Agreed
Bill 25, Supplementary Appropriation Act, No. 3, 1991-92
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 529
The Chair Richard Nerysoo
Thank you. Total department, $505,000, surplus. Agreed?
Bill 25, Supplementary Appropriation Act, No. 3, 1991-92
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 529
Some Hon. Members
Agreed.
--- Agreed
Department Of Education
Schools, Total O and M, Agreed
Bill 25, Supplementary Appropriation Act, No. 3, 1991-92
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 529
The Chair Richard Nerysoo
Thank you. Department of Education, operations and maintenance. Schools, not previously authorized, $949,000. Agreed? Mr. Gargan.
Bill 25, Supplementary Appropriation Act, No. 3, 1991-92
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 529
Samuel Gargan Deh Cho
Mr. Chairman, with regard to this, I asked the Minister a question about a month ago with regard to the process in which the Akaitcho Hall board was supposed to develop into a management board. This process has been halted because of a position that was terminated. The board itself still functions as an advisory board. I am wondering if there is going to be the support to actually establish a management board?
Bill 25, Supplementary Appropriation Act, No. 3, 1991-92
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 529
The Chair Richard Nerysoo
Thank you. Mr. Pollard.
Bill 25, Supplementary Appropriation Act, No. 3, 1991-92
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 529
John Pollard Hay River
Mr. Chairman, if you will excuse me, I will take the question as notice and get the answer from the Minister of Education.
Bill 25, Supplementary Appropriation Act, No. 3, 1991-92
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 529
The Chair Richard Nerysoo
Schools, not previously authorized, $949,000. Agreed?
Bill 25, Supplementary Appropriation Act, No. 3, 1991-92
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 529
Some Hon. Members
Agreed.
---Agreed
Arctic College, Total O and M, Agreed
Bill 25, Supplementary Appropriation Act, No. 3, 1991-92
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 529
The Chair Richard Nerysoo
Arctic College, $97,000, not previously authorized. Agreed?
Bill 25, Supplementary Appropriation Act, No. 3, 1991-92
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 529
Some Hon. Members
Agreed.
--- Agreed
Total O and M, Agreed
Bill 25, Supplementary Appropriation Act, No. 3, 1991-92
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 529
The Chair Richard Nerysoo
Total department, $1,046,000. Agreed?
Bill 25, Supplementary Appropriation Act, No. 3, 1991-92
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 529
Some Hon. Members
Agreed.
---Agreed
Schools, Total Capital, Agreed
Bill 25, Supplementary Appropriation Act, No. 3, 1991-92
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 529
The Chair Richard Nerysoo
Education, capital, schools, not previously authorized, $4,890,000, surplus, Agreed?
Bill 25, Supplementary Appropriation Act, No. 3, 1991-92
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 529
Some Hon. Members
Agreed.
--- Agreed
Arctic College, Total Capital, Agreed