Thank you, Mr. Speaker. In Yellowknife, there are approximately 250 students from the North looking for work, and more are coming every day. Then, there are many others who have come to Yellowknife from the South. So I'm wondering if the Minister could find out for me how many jobs there are for students this year in the Government of the Northwest Territories.

Thank you, Mr. Speaker. I would like to ask a question of the Minister responsible for the Business Credit Corporation. Would the Minister seriously consider the possibility of using private collection agencies, that might result in a higher net return to the BCC on delinquent loans? Thank you.

Mr. Speaker, as I understand the Business Credit Corporation, it is seen and sees itself as a lender of last resort; that is, they are often in the business of lending money to economic and business initiatives that are primarily seen as initiatives to create jobs. The government had set up this institution to go where banks would dread to go. So I'm not certain about the light in which the board of directors and this government sees collecting money; that is, I'm not certain about the priority that it gives to collecting money. From the first instance, they see themselves as lenders of last resort in high-risk areas where the chances of recouping losses are not good, by any banker's standards. So I would answer the question by saying that we could review it because it is a question that should be given some care in drafting the answer to. I would say I would have to review the goals and objectives of the government in setting up such an institution and the relative importance of collecting the high-risk money that is loaned by the institution. Thank you.

Thank you, Mr. Speaker. We recently wrote off almost $500,000 in loans. I would say, in these tight fiscal times, that when a loan is made as a loan, the assumption in my mind is that we expect it to be repaid. If it's throw-away money or grant money, maybe we should call it that. I would be very interested in working with the Minister, through the appropriate process, to look at this matter. My question to the Minister would be in this regard: when you say you would be prepared to review that, would that be part of the upcoming possible business plan review

some time in June or this summer when we could look at that? Thank you.

Mr. Speaker, I believe that all Members of this Legislature are interested in becoming more familiar with the Business Credit Corporation and the NWT Development Corporation, just as I am as a new Minister. I believe that all of us have to be familiar with the nature of the businesses that are conducted by these corporations. It seems to me it's a very fair question and good request to say, for instance that the Business Credit Corporation should tell us, in their view, what is the percentage of risk that they see in the business that they're in, in comparison to, let's say, the Bank of Commerce. We know that banks want almost a 100 per cent guarantee that whatever money they lend out is secured in assets or through a guaranteed return. We know that the Business Credit Corporation and the NWT Development Corporation are targeting just below that somewhere; perhaps, way below that. I'm not sure what it is, but I believe we should ask that question and I would be prepared to do that and share that with Members as soon as I get a response to that. Thank you.

Thank you, Mr. Speaker. With regard to the loans process, my understanding is the board of directors, which is directly involved in loan approvals, is a board of political appointees who are involved in direct loan approval. I have a real concern with that current set up. It is very prone to political interference and tampering, of which there could be abuses. I am speaking of my own knowledge of the business community in my neck of the woods, where there is possible movement of information that there shouldn't be. I even heard of an MLA requesting final approval of all loans in their community because they wanted to have that kind of influence. Would the Minister consider making the approval process more objective by removing the board from direct approval of loans?

Mr. Speaker, the board, as I understand it, and the corporation is set up to make loans; to invest in business initiatives that are considered high risk and basically out of range of consideration by banks. If there is difficulty with the board conducting business within the parameters of the legislation, then we should have a concern. If there is concern that the board is biased or unable to conduct itself because of considerations that are brought to the attention of myself, as the Minister, then the easiest thing would be to address the deficiency of the board

members themselves and to remove any suggestion that board members, collectively or individually, are unable to do good service to the public as they were appointed to do. That would be my own suggestion. If there are good suggestions as to why the board cannot continue to carry out the function of being a lender of money, then if that is preventing you ... (inaudible) ... perhaps the whole institution would have to be reviewed. That isn't a consideration at this time. Thank you.

Thank you, Mr. Speaker. The role of the Business Credit Corporation is not an issue so much as the process. The question would be, is it appropriate for a board to get involved at that level; handing out loans as opposed to setting out policy and direction. Would the Minister consent to reviewing that along with the role of the collection agencies that you committed to earlier in terms of the review?

Mr. Speaker, the Business Credit Corporation and the NWT Development Corporation are appointed by myself, as the Minister. I believe it is on the advice of Cabinet and with their support. So there is political accountability. If there is reason to remove a board or change members of a board because we lack confidence in some or all of them, then that is the prerogative of this government to do. We would be interested in knowing if there is reason to do any of what I have suggested. If there are grounds to do it, that is my prerogative.

I am hoping that what we do in the course of our work together over the next year is to establish a very clear working relationship with the Business Credit Corporation and a better system of accountability and to do exactly the same with the NWT Development Corporation. I am very interested in doing things that would have a positive effect and would increase the credibility and profile of these two corporations. Thank you.