This is page numbers 565 - 633 of the Hansard for the 12th Assembly, 4th Session. The original version can be accessed on the Legislative Assembly's website or by contacting the Legislative Assembly Library. The word of the day was chairman.

Topics

Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 609

The Chair

The Chair Tony Whitford

Not previously authorized, $3.731 million.

Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 609

Some Hon. Members

Agreed.

---Agreed

Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 609

The Chair

The Chair Tony Whitford

Page 26, Energy, Mines and Petroleum Resources, operations and maintenance. Energy, Mines and Petroleum Resources, special warrant, $250,000.

Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 609

Some Hon. Members

Agreed.

---Agreed

Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 609

The Chair

The Chair Tony Whitford

Total department, $250,000.

Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters

December 9th, 1993

Page 609

Some Hon. Members

Agreed.

---Agreed

Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 609

The Chair

The Chair Tony Whitford

Economic Development and Tourism, operations and maintenance, business development, not previously authorized. Mr. Koe.

Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 609

Fred Koe Inuvik

Thank you. A total of 2.5 PYs have been approved for the management and collection of loan accounts for the

Business Credit Corporation. What is the size of the loan portfolio today?

Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 610

The Chair

The Chair Tony Whitford

Thank you, Mr. Koe. Minister Pollard.

Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 610

John Pollard Hay River

Mr. Chairman, I believe the loan portfolio is around $19.5 million, sir.

Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 610

The Chair

The Chair Tony Whitford

Thank you, Mr. Pollard. Mr. Koe.

Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 610

Fred Koe Inuvik

What is the amount of outstanding loans?

Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 610

The Chair

The Chair Tony Whitford

Thank you, Mr. Koe. Minister Pollard.

Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 610

John Pollard Hay River

Mr. Chairman, it may be as high as $4.5 or $5 million. I think the Minister is looking at that area right now, and he has discussed, with myself, bringing forward a write-off bill for the February session. So, unless Mr. Todd has anything further to add, I think that's it.

Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 610

The Chair

The Chair Tony Whitford

Thank you, Mr. Pollard. Mr. Todd.

Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 610

John Todd Keewatin Central

What we define as "bad debts," I suppose is currently sitting at somewhere -- depending on your definition of a bad debt, I suppose -- between $4 and $4.5 million. Thank you.

Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 610

The Chair

The Chair Tony Whitford

Thank you, Minister Todd. Mr. Koe.

Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 610

Fred Koe Inuvik

I assume that the 2.5 PYs are not all -- it says here for management and collection -- required for collection of the $4.5 million. So, what exactly are the 2.5 PYs going to be used for?

Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 610

The Chair

The Chair Tony Whitford

Thank you. Mr. Pollard.

Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters

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John Pollard Hay River

Mr. Chairman, these people are not only trying to collect loans, they're also having input into when loans are made, to make sure that all the documents are signed, all the documents are filed, the collateral is there, and all the legal agreements are in place, so, in the event of some kind of problem down the road, there is something to fall back on to be able to get some money back.

I think one of the problems, and I'm probably speaking for Mr. Todd, but one of the problems we've seen in the past is maybe all the "i's" weren't dotted and the "t's" crossed. I think the Business Credit Corporation, as it moves further away from the Government of the Northwest Territories and operates on its own, will want to make sure that the loans it is making now are fully secured, registered, and so on and so forth. No, they're not all racing around repossessing cars and buildings and so on, they are doing other things as well, Mr. Chairman.

Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 610

The Chair

The Chair Tony Whitford

Thank you, Minister Pollard. The chair recognizes Mr. Koe.

Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 610

Fred Koe Inuvik

Maybe they should, then we might not have all these bad debts. There are 2.5 PYs, is one for a manager, one for a loan officer and one for a bill collector? I'm just curious.

Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 610

The Chair

The Chair Tony Whitford

Thank you, Mr. Koe. The structure, Mr. Pollard.

Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 610

John Pollard Hay River

Mr. Chairman, there is a credit collections officer, a credit officer, and a finance officer. Thank you, Mr. Chairman.

Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 610

The Chair

The Chair Tony Whitford

Thank you. Business development, not previously authorized, $263,000.