Thank you, Mr. Speaker. Today I would like to speak about some concerns that are out there regarding the potential division of the Workers' Compensation Board. The decision to pursue a transition arrangement was taken after the Western Coalition notified the government that there was no compelling reason to support the territorial government's proposal for a joint WCB. As a result, in August, Minister Todd indicated that discussions were underway to develop a transition plan for the division of the Workers' Compensation Board. In September, the Minister spoke about a $20 million operating surplus for 1997, and a catastrophe reserve of $10 million. There is $200 million accumulated in the investment account.
The question of course is, what will happen to these monies? The board has not notified employers, nor workers, on what plans have been made to deal with the impact of division. A number of stakeholder groups such as the NWT and the Yellowknife Chamber of Commerce, the NWT Fire Chiefs Association, St. John's Ambulance, the NWT Construction Association and the NWT Chamber of Mines have been trying to meet with the WCB Board and key staff to discuss these surplus funds and other issues. These organizations have a right and a responsibility to look into this concern and ask questions - after all, they are the ones who contributed the funds in the first place. They are concerned that policy decisions may be made without consultation from the employers who pay into the fund, nor the workers who are the beneficiaries.
Some concerns relate to such questions as how will the investment and catastrophe reserve monies be divided, or will those reserve funds be returned to those who made the contributions? There is also concern by these organizations about the recent downturn in financial markets and how it has affected the investments of these funds. In other words what is the true value of these funds today? There is a need for the WCB to address these questions and the many others these organizations may have. I would urge Minister Todd, being the Minister responsible, to immediately address the concerns of these organizations. Later, in question period, Mr. Speaker, I will be addressing some questions in this regard to the Minister. Thank you, Mr. Speaker.