Question 352-12(6): Investment Portfolio Of The Wcb

In the Legislative Assembly on November 7th, 1994. See this topic in context.

Question 352-12(6): Investment Portfolio Of The Wcb
Item 6: Oral Questions

Page 777

Henry Zoe

Henry Zoe North Slave

Thank you, Madam Speaker. My question would also be to the same Minister, the Minister responsible for the Workers' Compensation Board. According to the Workers'

Compensation Board 1993 annual report, the board has about $140 million in investments, but only 3.8 per cent of those investments are in the Northwest Territories, either in government bonds or through investment in the Northwest Territories private corporations. My question to the Minister, can the Minister explain why such a small percentage of the board's investments are here in the Northwest Territories? Thank you.

Question 352-12(6): Investment Portfolio Of The Wcb
Item 6: Oral Questions

Page 778

The Speaker Jeannie Marie-Jewell

Thank you. Minister responsible for the Workers' Compensation Board, Mr. Todd.

Return To Question 352-12(6): Investment Portfolio Of The Wcb
Question 352-12(6): Investment Portfolio Of The Wcb
Item 6: Oral Questions

Page 778

John Todd Keewatin Central

The WCB investment policy, from what I recollect because it is an independent group of people, is one of looking at bluechip investments. I suspect, although it's all I can say because I'm not involved directly, that the majority of their investments are in an area where they know they can predict the kind of return that they require to ensure that the pension fund is fully funded. Thank you, Madam Speaker.

Return To Question 352-12(6): Investment Portfolio Of The Wcb
Question 352-12(6): Investment Portfolio Of The Wcb
Item 6: Oral Questions

Page 778

The Speaker Jeannie Marie-Jewell

Thank you. Supplementary, Mr. Zoe.

Supplementary To Question 352-12(6): Investment Portfolio Of The Wcb
Question 352-12(6): Investment Portfolio Of The Wcb
Item 6: Oral Questions

Page 778

Henry Zoe

Henry Zoe North Slave

Supplementary, Madam Speaker. What efforts has the Minister made to encourage the board to find safer investments here in the Northwest Territories?

Supplementary To Question 352-12(6): Investment Portfolio Of The Wcb
Question 352-12(6): Investment Portfolio Of The Wcb
Item 6: Oral Questions

Page 778

The Speaker Jeannie Marie-Jewell

Minister responsible for the Workers' Compensation Board, Mr. Todd.

Further Return To Question 352-12(6): Investment Portfolio Of The Wcb
Question 352-12(6): Investment Portfolio Of The Wcb
Item 6: Oral Questions

Page 778

John Todd Keewatin Central

Absolutely not. No way would I infringe upon the fiscal investment policy of the Workers' Compensation Board at this time, Madam Speaker.

Further Return To Question 352-12(6): Investment Portfolio Of The Wcb
Question 352-12(6): Investment Portfolio Of The Wcb
Item 6: Oral Questions

Page 778

The Speaker Jeannie Marie-Jewell

Thank you. Item 6, oral questions. Supplementary, Mr. Zoe.

Supplementary To Question 352-12(6): Investment Portfolio Of The Wcb
Question 352-12(6): Investment Portfolio Of The Wcb
Item 6: Oral Questions

November 6th, 1994

Page 778

Henry Zoe

Henry Zoe North Slave

Supplementary, Madam Speaker. I agree that the board needs to safeguard its funds carefully and not gamble them on ventures that are too risky. But even an extra million or two invested in the northern economy would make a significant difference to economic development in the north. Can the Minister make a commitment to this House that he and the board will make more of an effort to find suitable investment opportunities for the board's funds in the Northwest Territories? Thank you.

Supplementary To Question 352-12(6): Investment Portfolio Of The Wcb
Question 352-12(6): Investment Portfolio Of The Wcb
Item 6: Oral Questions

Page 778

The Speaker Jeannie Marie-Jewell

Minister responsible for the Workers' Compensation Board, Mr. Todd.

Further Return To Question 352-12(6): Investment Portfolio Of The Wcb
Question 352-12(6): Investment Portfolio Of The Wcb
Item 6: Oral Questions

Page 778

John Todd Keewatin Central

Madam Speaker, the responsibility for investment lies solely with the Workers' Compensation Board. Thank you.

Further Return To Question 352-12(6): Investment Portfolio Of The Wcb
Question 352-12(6): Investment Portfolio Of The Wcb
Item 6: Oral Questions

Page 778

The Speaker Jeannie Marie-Jewell

Thank you. Item 6, oral questions. The honourable Member for Kitikmeot, Mr. Ng.