Thank you, Mr. Speaker. I would like to inform this House that on April 7th of this year I met with the Government Leader and the Minister of Finance to discuss the feasibility of a First Nations trust company. We are all aware that the federal government has provided substantial funding, programs and support for aboriginal groups over the years.
Yet, despite this massive support, the aboriginal people of Canada have never really benefited from the dollars flowing from the federal and provincial governments. In order for aboriginal economic development policies to be successful, it is essential that aboriginal people control and be responsible for the capital which is used in their particular ventures.
Most Members of this House are aware that, despite the fact that banking institutions have been utilized by aboriginal institutions, band councils and aboriginal businesses, very few aboriginal people are eligible for loans on an individual basis. Aboriginal communities have also encountered difficulties in obtaining loans and have been forced to rely on government contributions. It is for those reasons, Mr. Speaker, that we have consulted with the Government Leader and the Minister of Finance in regard to establishing a First Nations trust
company. Aboriginal communities and organizations in the Northwest Territories, British Columbia and the northern portion of other southern provinces have expressed a keen interest in a First Nations trust company. I hope this government views the creation of a First Nations trust company as a positive step toward our inherent right to self-government. Thank you, Mr. Speaker.
--- Applause