Well, all our borrowing of course, as Miss Melhorn has aptly told me, is all short term. There is no long term borrowing at this stage of the game and we are trying to avoid any borrowing. That is why we have this Deficit Elimination Strategy. Most of that would be on some kind of floating rate.

Yes, with the volume of money that we use , I would only make the assumption that we are a major player in the banking business. I would only be too happy to provide my colleague, later on this week, with the details of it but I want to assure him that we look for competitive rates in our borrowing and in our money management, same as we do in everything else that we do. I will provide my colleague later on this week with the rate, if you want, that we are currently paying. Thank you.

It is my understanding that all our assets are covered and of course, if I remember looking at my notes, we will just double check it, there is a million dollar deductible, as they say. I will just double check it in a moment. Okay. All properties are covered. Deductible is $100,000 Each and every loss with an annual aggregate of a million dollars. Therefore $100,000 each and every loss except for flood.....So what we have is a deductible of $100,000. Each and every loss within an annual aggregate of a million dollars and thereafter $100,000.

Yes, we are concerned about it. It is $2 million plus on an annual basis and my concern is primarily in the last short while, the last 2 years seems to have been a considerable amount of claims that were, historically, not there before. We have had some big ones, of course. Fort McPherson, and of course, burden them again. So there is that large $7 million school loss. There is a concern within the market place of insurances that, an overriding concern of cost versus claim. So we are very cognisant of the fact that we have got to get as competitive a rate as possible on our insurance policies so that is how we were alluding it to costs. So we are in the market place very aggressively, the same as we are in our banking, trying to get the best rate possible. There has been as I have said, well I will give you an example, it is right here. For example, in 1991/92 our overall losses were $871,000, in 1995/96 it was $8,396,000. The year before that it was $2 million. The year before that it was a million and a half. So any insurance broker looking at that and he sees this trend, I mean, your amount of claims reflects on your amount of your costs. Whether you are driving a car, owning several houses or of course, the government with its large asset base, and the need to protect it. So that is really where I am coming from, if I may, Mr. Chairman. It is more an overriding concern about the volume of claims going in at an ever-increasing rate. Thank you.

Payroll tax forecast for 1997/98 is $12,966,000, so roughly $13 million. As you know, to all territorial employees there is a balancing tax credit and we are anticipating, if my numbers serve me right, and believe that that actual overall net benefit before we deduct, if you want, our overall costs. It cost the living tax rate, the living tax credit, is $11,900,000. Oh dear. So $11,900,000 minimum the $12,900,000. I am told that there is roughly about 3 PYs run that $300,000, so a net benefit, I suppose to the Territories to save some aggravation, would be somewhere around $700 thousand. Now, as I said to you before, I was a bit of an advocate earlier on. I was trying to remove this tax, but given the activity that is going on, and quite frankly, the lack of political will and support, we maintained it so I think our best guestimate in this stage of the game is probably somewhere in the range of $1 million before our costs. Would that be right, Margaret? Yes. That is what it would be.

Our corporate taxes are very competitive in the corporate side, in terms of, for the business community, I think it is the second lowest or the third lowest in Canada. On the personal income tax side, I think it is the lowest in Canada.