Thank you, Mr. Chairman. This issue of trying to change the way we capitalize our projects and do our capital planning is one that I have been talking to the
Minister about for at least a year. Very clearly, with the deficit reductions that we have undertaken in the last two years, and the $50 million that was totally removed from the capital budget, we are no longer in a position, as a government, to be able to pay yearly for every capital project that we complete.
Not only that, it makes no financial sense and it is not a good business practice. No corporation does it. No adequately run business does it. Everything is amortized. They spread out the costs and they use their capital to leverage money. There has to be appropriate checks and balances. I think given the issues and the commitments we have in terms of capital infrastructure, and I think of specifically once again the two hospitals, that this is an amendment that is a step in that direction. It does not absolve us as Legislatures and committee members of due vigilance, or Cabinet of good faith, in honouring the intent of this amendment.
This has been reviewed at least three times now by Government Operations, if my memory serves me correctly, trying to come up with a common agreed-to version. So I will be supporting this amendment, Mr. Chairman. Thank you.