Mr. Speaker, the problems we've been having with the northern accord are all related to financial issues. We have chosen not to sign a final accord based on the previous government's offer. Like I said, we did raise the issue of the northern accord with the present Minister and we would like to resume negotiations at the earliest opportunity. If a few financial issues could be resolved, a final agreement could be struck in a relatively short period of time. The most important remaining issue concerns the Government of the Northwest Territories' access to a share of revenues from Norman Wells Crown interest, in order to establish a source of funding for oil and gas development purposes and the removal of the fiscal disincentive to encourage oil and gas development costs by the perversity factor. Mr. Speaker, those are the issues that stand in the way.
As I said previously in a question that was relayed to the Government Leader, we have indicated to the Prime Minister and also the Minister of Indian Affairs, that it's very important if we are going to support the interest of the Northwest Territories' residents and people interested in development, that the first thing required is for some kind of development fund to allow individual corporations to get their foot in the door. We know the equity that has to be raised if you want to proceed. There are avenues if you can find some equity, but still there is often a requirement with development corporations where they don't have the equity. So it's very important that if we are going to take this responsibility, we recognize that and there should be a pool of resources, not only just to take over the responsibility, but to support the people of the Northwest Territories and groups to get involved in the development and have a share in what that development is. I believe this is the only thing that's holding us up right now and that we have to have some commitment on a development fund. Thank you.