Thank you, Mr. Chairman. There was a bunch of ideas that were thrown forth last year in regards to the Mortgage Investment Corporation, the foreign exchange fund, that they were looking at foreign dollars. What has happened in relation to that type of initiatives that this government was looking at to find new ways of stimulating the economy and also find new revenues. Maybe the Minister could tell us where that is at.
Debates of Feb. 10th, 1997
Topics
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 519
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
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Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
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John Todd Keewatin Central
We are moving quickly on the Aurora Fund, which is an off-shore investment fund and that is well underway and I am cautiously optimistic that we will be able to meet some of the targets of the Immigrant Investment Fund, which will bring new capital into the Northwest Territories. I am a little behind in terms of analyzing some of the other recommendations that came forward. We are trying to finalize that right now and I think that is an area that we need to pursue a little more aggressively once this budget is done. That is in relationship to the recommendations that came from my colleagues who travelled with me in the Maritimes and looked at some of the other options out there, whether it was in RRSPs, whether it was in some tax concessions. I am fairly confident that that is an area that we need to get into a little more aggressively and see what else we can do. But the only real serious initiative that has moved forward in a concrete way has been the Aurora Fund initiative. Thank you.
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
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Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
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David Krutko Mackenzie Delta
In regards to the whole idea of taxes and also being the jurisdiction whose taxes are the lowest in the country, maybe it might be suffice that we can be tied to the lowest and that we do not have to be the lowest in order to generate those revenues. I think it is great to promote being the lowest but also the highest expenditure, our social envelope, would seem to be looming out of the overall budget. Sixty-five percent of the money is being spent in that envelope yet there is no real initiative to generate revenues to offset the cost of cuts that we are going to take probably from the feds in regards to that. And is there a possibility... you mentioned that you are willing to look at it but you know we only have another two years and there is one more budget session after this one and I do not think we really have the time to but I believe that we have to have the initiative to look at seriously taking a look at the taxes and looking at that one way of generating revenues. So will you tell us when do you intend to do that and how soon because I do not believe that we have the time.
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 519
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
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John Todd Keewatin Central
I would be only too happy to commit now, publicly, to work closely with the committees once this budget is approved, to look at initiatives that we think we can bring forward and put them into effect in the May/June session of this year.
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
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The Chair Vince Steen
Thank you, Mr. Todd. I am on total operations and maintenance, $7,381,000. Mr. Erasmus.
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
February 9th, 1997
Page 519
Roy Erasmus Yellowknife North
Thank you, Mr. Chairman. The Minister had indicated that he is willing to look at revenue-generating ideas in the future and I know that video lottery terminals, or VLTs, have been brought up in the past and I believe that we have enough social problems in the north. We have been hearing about Alberta and other places where people are losing their homes, their cars, their businesses, because of addictions to VLTs. Just leads to social problems, arguments at home, family break ups, that sort of thing. Also, you hear of people who were not drinking, and then started going to bars just to gamble and I do not think we need that type of thing in the Northwest Territories and I would hope that the Minister would not be considering this type of thing in the Northwest Territories. Can we get an indication of the Minister's views on this please?
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
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Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
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John Todd Keewatin Central
I think my position has been consistent on this issue. I have said it publicly in the House and I will say it again. I am not an advocate of this kind of activity. What I did say to my honourable colleague, Mr. Krutko, and to others, once this budget is approved, that I would work with the committees to determine, to take a hard look at additional revenue initiatives that we can move forward on. The question was asked, "could we put them into place in a timely manner", and I would suggest to you, with a considerable effort between committees and myself and my Cabinet colleagues, that if there is a will there to do some revenue initiatives that make some sense, that are socially and morally acceptable, that we could move quickly to do that in May and June. Thank you.
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
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The Chair Vince Steen
Thank you, Mr. Todd. We are on total operations and maintenance, $7,381,000. Agreed? Mr. Krutko.
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
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David Krutko Mackenzie Delta
Thank you, Mr. Chairman. In regards to the taxes or also looking at lottery licensing, I see that there has been a real increase in that portfolio. What was the reason for that?
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
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Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
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John Todd Keewatin Central
I am sorry, Mr. Chairman, I did not have my ear plugged in and I did not hear the question. Sorry, like yourself, I occasionally have a hearing problem.
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
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Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
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David Krutko Mackenzie Delta
Thank you, Mr. Chairman. In regards to the budget, there is a real decrease in the amount of revenues that we have received in lottery licensing. Can you tell me exactly why is that?
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
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Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
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John Todd Keewatin Central
What, I do not see it in the budget here. Could my honourable colleague be more specific, I am not quite sure what he means?
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 520
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
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David Krutko Mackenzie Delta
Thank you, Mr. Chairman. In regards to the whole idea of revenues that there are, there has been a decrease in regards to amount of revenues that we were bringing in. What is the reason for that?
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 520
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
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John Todd Keewatin Central
Yes, I do not have lottery licensing revenues in my budget, Mr. Chairman. That usually belongs to MACA I believe. Thank you.
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
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The Chair Vince Steen
Thank you, Mr. Todd for clarifying that. Mr. Krutko does that answer your question?
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
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David Krutko Mackenzie Delta
Thank you, Mr. Chairman. Okay, in regards to treasury, there is received revenues and what not. There is a decrease in regards to O and M, 14 percent. What was the decrease for?