This is page numbers 689 - 717 of the Hansard for the 12th Assembly, 5th 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 community.

Topics

Question 328-12(5): Source Of Money To Be Borrowed
Item 5: Oral Questions

Page 697

Brian Lewis Yellowknife Centre

Thank you, Madam Speaker. Yesterday, we gave third reading, I believe, to a bill authorizing this government to borrow money. I would like to ask the Minister of Finance, now that you have the bill through the House, where are we going to borrow the money from so that we can have some operating capital for the next while?

Question 328-12(5): Source Of Money To Be Borrowed
Item 5: Oral Questions

Page 697

The Speaker Jeannie Marie-Jewell

Thank you. Minister of Finance, Mr. Pollard.

Return To Question 328-12(5): Source Of Money To Be Borrowed
Question 328-12(5): Source Of Money To Be Borrowed
Item 5: Oral Questions

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John Pollard Hay River

Thank you, Madam Speaker. In these kinds of situations, it is short-term borrowing that we exercise and that is either done with the Royal Bank or the CIBC. One of those institutions is where we'll go for the money. Thank you, Madam Speaker.

Return To Question 328-12(5): Source Of Money To Be Borrowed
Question 328-12(5): Source Of Money To Be Borrowed
Item 5: Oral Questions

Page 698

The Speaker Jeannie Marie-Jewell

Thank you. Supplementary, Mr. Lewis.

Supplementary To Question 328-12(5): Source Of Money To Be Borrowed
Question 328-12(5): Source Of Money To Be Borrowed
Item 5: Oral Questions

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Brian Lewis Yellowknife Centre

When you go anywhere to borrow money, you have to indicate that you're a good, safe bet. Each province that I've witnessed over the last several months has been having terrible problems getting the money they need because their rating isn't very good. I would like to ask the Minister how our government is rated in terms of its fiscal position.

Supplementary To Question 328-12(5): Source Of Money To Be Borrowed
Question 328-12(5): Source Of Money To Be Borrowed
Item 5: Oral Questions

Page 698

The Speaker Jeannie Marie-Jewell

Thank you. Minister of Finance, Mr. Pollard.

Further Return To Question 328-12(5): Source Of Money To Be Borrowed
Question 328-12(5): Source Of Money To Be Borrowed
Item 5: Oral Questions

Page 698

John Pollard Hay River

Madam Speaker, we don't have a triple A rating or an AAB rating, or any of those kinds of ratings. We've never had the need to get that kind of rating. We enjoy, what I believe to be, triple A rating without being rated. Thank you, Madam Speaker.

Further Return To Question 328-12(5): Source Of Money To Be Borrowed
Question 328-12(5): Source Of Money To Be Borrowed
Item 5: Oral Questions

Page 698

The Speaker Jeannie Marie-Jewell

Thank you. Supplementary, Mr. Lewis.

Supplementary To Question 328-12(5): Source Of Money To Be Borrowed
Question 328-12(5): Source Of Money To Be Borrowed
Item 5: Oral Questions

Page 698

Brian Lewis Yellowknife Centre

I would like to ask the Minister, since there has been no decision as to where we're going to borrow the money -- it could be from one or two banks, or it could be more -- when this is done on what basis does the bank provide the money? They have to have some kind of criteria to determine whether this government should be loaned the money or not. I would like to ask the Minister, what is the criteria that's used to determine whether this government is a good risk to loan money to?

Supplementary To Question 328-12(5): Source Of Money To Be Borrowed
Question 328-12(5): Source Of Money To Be Borrowed
Item 5: Oral Questions

Page 698

The Speaker Jeannie Marie-Jewell

Thank you. Minister of Finance, Mr. Pollard.

Further Return To Question 328-12(5): Source Of Money To Be Borrowed
Question 328-12(5): Source Of Money To Be Borrowed
Item 5: Oral Questions

Page 698

John Pollard Hay River

Madam Speaker, the process is that I sign a bunch of notes, some for CIBC, some for Royal Bank, and I have those transported over to the Department of Finance. The money managers over there use them as they see fit and where they can get the best rate for short-term borrowing.

The criteria that the bank uses for us I am not aware of, Madam Speaker. I can only say to this House that we don't have to go to the bank on bended knee and pledge our lives and lay everything on the line. It's just an automatic thing that our money managers go to the bank and say here are some notes, we would like some money, and we get it. So, I think that's the procedure with short-term borrowing.

If we were to be looking at the purchase of some large asset, or if we were to be looking at some long-term borrowing, then I think we would be there having to pledge and have collateral, et cetera. But, for short-term borrowing I don't know what criteria the bank uses, but they are certainly not onerous, they consider us a good risk. We haven't had any problems in the past and I don't anticipate any this time, Madam Speaker. Thank you.

Further Return To Question 328-12(5): Source Of Money To Be Borrowed
Question 328-12(5): Source Of Money To Be Borrowed
Item 5: Oral Questions

Page 698

The Speaker Jeannie Marie-Jewell

Thank you. Item 5, oral questions. The honourable Member for Kitikmeot, Mr. Ng.

Question 329-12(5): Guidelines For Allocation Of Staff Housing
Item 5: Oral Questions

Page 698

Kelvin Ng Kitikmeot

Thank you, Madam Speaker. The guidelines for allocation of staff housing...Sorry, my question is directed to the Minister of Personnel. The guidelines for allocation of staff housing units to government employees based on the needs of these employees has caused some confusion in the implementation of the staff housing strategy. I would like to ask the Minister what the current criteria is for the allocation of staff housing units for staff in the communities. Thank you.

Question 329-12(5): Guidelines For Allocation Of Staff Housing
Item 5: Oral Questions

Page 698

The Speaker Jeannie Marie-Jewell

Thank you. Minister of Personnel, Ms. Mike.

Return To Question 329-12(5): Guidelines For Allocation Of Staff Housing
Question 329-12(5): Guidelines For Allocation Of Staff Housing
Item 5: Oral Questions

Page 698

Rebecca Mike Baffin Central

Thank you, Madam Speaker. The current policy for allocating staff housing has not changed. It is the size of the family and the needs, which are the criteria that have been practised in the past. Thank you.