Thank you, Mr. Speaker. This past Friday in Ottawa, I met with the Honourable Lloyd Axworthy, Minister of Human Resources Development, and the Member of Parliament for Nunatsiaq, Mr. Anawak, to discuss the future of the community futures program in the Northwest Territories.

Mr. Axworthy and I have agreed to begin negotiations to transfer the program to the Department of Economic Development and Tourism.

Mr. Speaker, the Department of Economic Development and Tourism views community futures as a highly successful program that provides much-needed support to the still developing Northwest Territories business community. This program provides loans, business information, self-employment incentives and occasionally, equity participation.

Community futures societies operate a number of offices in the Northwest Territories. Clients typically include small businesses and unemployed individuals wanting to start a business. The program provides much-needed support for small entrepreneurs and business people involved in the traditional economy.

The transfer of the program will ensure that it will not be placed in a large federal bureaucracy based outside the Northwest Territories.

Given the success that the four community futures societies in the Northwest Territories have had in administering this program, we intend to ensure its continuation and protect the integrity of the program through this transfer from the federal government.

Mr. Speaker, I have written to the chairpersons of all community futures societies in the Northwest Territories to arrange a meeting in the near future to discuss the transfer in greater detail.

I will keep the House informed of any new developments as they occur.

---Applause