Mahsi, Mr. Speaker. Mr. Speaker, I reviewed the proposed Bill 30 and I support the good intentions of the bill. This is very similar to initiatives taken by other Legislatures across Canada and across the USA. However, this bill provides that the budget of this government be balanced for the 1998-99 fiscal year. Mr. Speaker, we are going through periods of great change now; let's say not just change but upheavals in the Northwest Territories. We have fiscal
problems. This government is now experiencing deficit situations which it hasn't before, or at least not to the extent that we are looking at. We have growth in our population with much of our population considered younger people and this is putting great strains on all of our services, all of our programs. We're going through economic upheavals and trying to negotiate new arrangements for oil and gas and mineral accords plus other arrangements. Our EDA program has been cut. Other programs are being cut and we're going to have to look at how we develop economics in the Northwest Territories. Lastly, we're going through a period of division. In 1999, we will have two new territories. Currently, we are negotiating with the federal government and with each other. Who knows what the end results will be or what the costs for implementing division? There are huge uncertainties, not only for Nunavut but also for the new western Arctic.
In my brief review of this proposed bill, I don't know what the impact of this bill will be on the bureaucracy or on this Legislative Assembly. To me, there don't seem to be any penalties imposed for incurring a deficit. So what will happen if a deficit occurs by 1998-99, other than the new Legislature in 1999 having to deal with it and balance the books somehow. We are putting the onus on a group of people, who knows who they will be, five years from now.
If we are to approve a Deficit Elimination Act, then this act should have some teeth and make someone accountable for continuing to incur deficits. Therefore, I need more time to review and examine this bill before I can fully support it. I know we're going to go to committee if it gets second reading and we'll have, hopefully, some time to do so. At this time, I will abstain from voting for second reading of the bill.