Thank you, Mr. Chairman. When we began this session, I indicated that it was my expectation that before we completed this sitting, we would address the issue of restructuring the salary and benefits package available to Members of the Legislative Assembly and to Members of Cabinet.
Mr. Speaker, in addition to the reduction of salary and benefits entitlements by seven per cent, and in addition to making the decision that there will be no increases during the life of this Assembly, we have also accepted, and collectively agreed, that radical surgery is necessary to rationalize the pension plan which has been available to Members of the Legislative Assembly.
Mr. Chairman, we've said many, many times that we, as elected leaders of the Legislative Assembly and as elected leaders of the Northwest Territories, must lead by example.
We fully intend to lead by example and we will lead by example, as of April 1, 1996.
In this regard, we have come to agreement that, effective April 1, 1996, the existing five per cent pension plan available to MLAs will be terminated.
--- Applause
Let me repeat that: It will be terminated and it will mean a big amount of reduction to some Members. At this time, Mr. Chairman, if allowed, I would like to move the following motion: