Thank you, Mr. Chairman. Let me address the availability of investment capital. I think my colleague would be surprised just how much disposable income is out there, even in these difficult times. I mean, I am told, and I stand to be corrected there is somewhere between $20 and $30 million a year going into RRSP's for example in the territories. That is a significant amount of investment income if we can tap even into a fraction of that. So that is on the one side. There is still a fairly healthy investment community out there and I think, I hope, they will view this very favourably. The reasonable minimum, I think we have a maximum of up to $100,000. So, I mean, if somebody formed a small company, three guys got together needed $15,000 putting $5,000 each into it, I think we would consider that the same as anything else. I only use the $10,000 just for clarity purposes to demonstrate the value of the credit. Of course on the RRSP side you have to have the window to be able to access the RRSP, but this is what I am optimistic about, it could bring about a fair amount of investment. You will notice we are pretty conservative in the way we are approaching this thing. I am saying 98/99, $1 million in tax credits up to $5 million. I think, in the year 2000-2001, gives us somewhere in the region of $35 million in new equity. So, you know, it is pretty conservative. In my discussions around, I am fairly optimistic that we will get some of this cash flowing and moving, and I hope that people in the territories will invest in their country as southerners have done and others have done. This way we get the small tax credit in to encourage them as an incentive to reduce that risk. Thank you.
John Todd on Item 20: Consideration In Committee Of The Whole Of Bills And Other Matters
In the Legislative Assembly on January 26th, 1998. See this statement in context.
Item 20: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 20: Consideration In Committee Of The Whole Of Bills And Other Matters
January 25th, 1998
Page 325
John Todd Keewatin Central
See context to find out what was said next.