Well, the Member raises a good point, Mr. Chairman, and that is, the differentiation between this bill, which allows us to borrow money to meet the requirements of the government and the expenditure pattern and the budgets that have been approved by this Legislative Assembly, when they passed the O and M and capital budgets previously. The things to look at are the bills before the House that deal with capital and O and M spending. That is the limit that this Legislative Assembly sets upon the government for its spending powers. This is merely to meet those obligations that this Legislative Assembly has already passed. So, it is not going to be the tempting issue where we have another $50 million that we can go out and spend. This does not authorize any extra spending, over and above what this Legislative Assembly has approved in either the capital or O and M budgets before this House, Mr. Chairman. Thank you.
John Pollard on Bill 14: An Act To Amend The Borrowing Authorization Act
In the Legislative Assembly on March 17th, 1994. See this statement in context.
Bill 14: An Act To Amend The Borrowing Authorization Act
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
March 16th, 1994
Page 670
John Pollard Hay River
See context to find out what was said next.