It will take some time to answer this question, so my colleague understands the concept in which it was done. The reality is that the city of Yellowknife has taken the largest amount of hits in the Deficit Elimination Strategy. Coupled with that, there is going to be 150 to 200 jobs that are going to disappear with division. With that, you have the crisis in the gold market which laid off even more people. As Finance Minister, I am concerned. I was as concerned then, as I am now. There is a requirement for stability in the investment community, a requirement for stability within the banking community and there is a requirement to ensure that Yellowknife gets treated no differently than anybody else. The $400,000 which I was actively involved in, and I am proud to say that, is a one time effort to assist Yellowknife to get out there and find alternatives to the hits it has taken over the last two or three years. I fundamentally believe that if the centre gets weakened to the point where the investment community is not prepared to continue to invest, it has a ripple effect outside of Yellowknife, whether it is in Iqaluit, Arviat, Cambridge Bay or Fort McPherson. That is the reason that request had my support and I requested it be done. It was a one-time deal and an effort to try and bring some support to Yellowknife for the first time in 25 years, in a time of extreme difficulties. I believe it warranted it then and still believe it warrants it now. Thank you.
John Todd on Question 428-13(5): Contribution To The City Of Yellowknife
In the Legislative Assembly on February 24th, 1998. See this statement in context.
Further Return To Question 428-13(5): Contribution To The City Of Yellowknife
Question 428-13(5): Contribution To The City Of Yellowknife
Item 6: Oral Questions
February 23rd, 1998
Page 1051
John Todd Keewatin Central
See context to find out what was said next.