Hear, hear.

Thank you. Your motion is in order.

Ten miles for you!

---Laughter

To the principle of the bill. The honourable Member for Iqaluit.

Madam Speaker, when the Northwest Territories reluctantly went metric more than a few years ago, I think I was a lone voice yearning for the days of feet, pounds, yards and acres to be retained as part of our Anglo-Saxon heritage. Madam Speaker, my pleas fell on deaf ears, but I'm pleased to speak in favour of this motion, although I suspect it might not herald the beginning or the end of metric.

---Applause

Thank you. To the principle of the bill.

Question.

Question has been called. All those in favour? All those opposed? Bill 10 has had second reading and, accordingly, the bill stands referred to a committee.

---Carried

Item 17, second reading of bills. Item 18, consideration in committee of the whole of bills and other matters: Bill 1, Appropriation Act, No. 2, 1994-95; Committee Report 2-12(5), Review of the 1994-95 Main Estimates; Minister's Statement 5-12(5), Session Business; Tabled Document 1-12(5), Towards an NWT Mineral Strategy; Tabled Document 2-12(5), Building and Learning Strategy; Tabled Document, 34-12(5), Tradition and Change, A Strategy for Renewable Resource Development in the NWT, February 1994; and, Bill 14, An Act to Amend the Borrowing Authorization Act, with Mr. Lewis in the chair.

I would like to call the committee to order. What would the committee like to do? Mr. Dent.

Do Members agree with Mr. Dent's proposal?

We'll go to Bill 14 then. The Minister responsible for this bill, Mr. Pollard.

Introductory Remarks

Thank you, Mr. Chairman. Mr. Chairman, the purpose of the Act to Amend the Borrowing Authorization Act is to increase the government's borrowing authority to cover temporary cash shortages in the current fiscal year. Mr. Chairman, the current act authorizes government borrowing up to $65 million. The government's cash position has decreased substantially from initial forecasts, and short-term borrowing requirements are currently projected to exceed $90 million in March, 1994. The increase in borrowing, Mr. Chairman, has resulted from non-payment by Canada of Indian and Inuit health billings for 1993-94 and 1992-93, federal grant adjustments related to income tax payments, and increased expenditures reflected in supplementary appropriations No. 1 and No. 2.

Mr. Chairman, in addition to increasing the borrowing authority, the act is being amended to change the reference to the Comptroller General to the deputy minister of Finance, since the Comptroller General is no longer responsible for the administration of this act. Thank you, Mr. Chairman.

Does the Standing Committee on Finance have comments on this bill? Mr. Antoine.

Standing Committee On Finance Comments

Thank you, Mr. Chairman. The Standing Committee on Finance reviewed this bill, Bill 14, An Act to Amend the Borrowing Authorization Act, on March 16, 1994. The committee understands the need to deal with this bill quickly. The Members discussed the proposed changes to the act and agreed it should be moved into committee of the whole for further discussion and action.

The Standing Committee on Finance did not feel it was necessary for the Minister to appear before the committee regarding this bill. Therefore, individual committee Members will take this opportunity in committee of the whole to ask questions. Mahsi, Mr. Chairman.

Thanks very much, Mr. Antoine. Mr. Pollard, are you prepared to deal with this from your seat or would you like to go to the witness table?

With the committee's indulgence, Mr. Chairman, I would like to bring in a witness and move to the witness table. Thank you, Mr. Chairman.

Do Members agree?

Agreed.

---Agreed

Okay, Mr. Pollard, thank you, very much. Sergeant-at-Arms, seat the witnesses comfortably at the table, please. Thank you, Mr. Pollard. For the record, would you introduce the familiar figure on your right.

Thank you, Mr. Chairman. Mr. Chairman, the gentleman on my right, your left, is Mr. Eric

General comments on the bill in front of us? Mr. Antoine.

General Comments

Thank you, Mr. Chairman. What has created the urgent, short-term need to increase the borrowing authorization at this time? Thank you.