Thank you, Mr. Chairman. My question to the department of Finance is in relation to the control mechanism that we have in place to ensure that we continue to monitor the financial situation of this government. Also to look at the possibility of finding ways of generating new revenues and in some places, the possibility increasing taxes in order to arrive at these revenues. We always ask the Minister of Finance about the possibility of finding new revenue sources such as the possibility of taxing the diamond industry, increasing tobacco taxes, looking at the possibility of increasing the corporate taxes since we are the lowest taxed in Canada. I think we have to keep in mind the cost to this government especially when you see other jurisdictions not only in Canada but in regard to the United States when it comes to the tobacco industry and the cost to not only this government but other governments in regard to healthcare. Which is one of the areas where there is a real increase in cost especially when it comes to health related diseases because of tobacco smoking and the effects that is has on non-smokers, children and the whole health of all the residents of the Northwest Territories.
I believe we have to seriously look at the possibility of considering increasing tobacco taxes to offset those costs that are associated to this government when it comes to tobacco related health care matters. In light of the high cases of cancer we see in the communities and also the high rates of teenagers and children smoking in relation to the effect that it is going to have on this government in future years, I believe we should seriously look at the possibilities of increasing taxes in these areas and the possibilities of looking at the whole tobacco industry to pick up some of those costs this government has had to incur because of health related diseases because of tobacco smoke. Regarding the whole area of increasing our revenues in reference to the Liquor Commission, there has always been a call for alcohol related affects on people. Especially the cost of treatment, the cost of the justice system of which a large majority of our cases are alcohol related. Finding a mechanism to have the ability to not only put labels on bottles but to take some of those revenues and put them in to the whole area of helping people kick the habit, help those people who have become addicted to alcohol. I think these are areas we have to look at in light of the revenues that we generate from these different tax regimes and also the different distribution of liquor in the Northwest Territories through the Liquor Commission.
With the whole area of the child benefit, I believe it is a good initiative but we have to ensure that it is streamlined in such a way that the resources are there to ensure that it is implemented in such a way that does flow smoothly.
The whole idea of the P3 programs in this government, I support that initiative knowingly that it is one method of simulating the economy, especially where there is not much of an economy in some regions or sections of the territories where we depend on those summer seasonal jobs, especially when it comes to developing infrastructure. Looking at the cost to this government of building schools where you are having to have the money up front and finding new initiatives where you spread the cost of an item over a number of years. In regard to these initiatives, there are a few areas I have concerns with, in regard to the P3, but I believe they can be worked through.
In regard to the whole area of ensuring the majority of the economic spin-off that comes from any of these projects, stay within the communities and the opportunities are available to the communities, and the ability of development corporations within the different regions have the adequate resources and opportunities to take on these large, potential projects within different ridings and regions.
The other concern I have is in regard to the whole area of corporate taxes. I know the whole idea of increasing taxes is a scary thought, but I think everyone sees it when you get your paycheque as to where a majority of those taxes are taken off. In relation to corporate taxes, there have been a number of years we have not looked at the possibility of seriously looking at a potential of increasing tax revenues.
In regard to the mining tax with the diamond industry where you are talking billions of dollars, I believe that is one area this government has to seriously look at, to ensure the maximum benefit to this government and to the people of the Northwest Territories, as to where these resources will come from, to be there to offset those costs associated with any development anywhere in the world or in the north for that matter.
I thought when I mentioned the costs which are associated with development in the whole Beaufort Sea area, where I grew up and spent a number of years working, in regard to the oil industry, you do not see the implication of the developer until after it is long gone. There are going to be problems associated with that development, current and future, regarding the impact it will have on the communities and the region. There has to be a mechanism there to ensure those revenues are taken from those resources, a portion of it left behind to ensure when the good times are gone and the bad times are left, there are some revenues to deal with the social problems associated with these developments and the stress and duress of the communities who do not have the economic opportunities they had before. I am talking in relation to the oil and gas industry in the Beaufort Delta region where it has been almost 20 years since we had the boom/bust scenario take place. We do not see any light at the end of the tunnel for anything happening soon.
There has to be some sort of system in place to ensure the federal government lives up to its obligations when it allows these activities to take place. In regard to large scale developments such as the diamond industry in which they receive all the royalties from the north today, there has been an effort made by this government and the whole idea of ensuring those benefits are given to the communities and the people that it will affect the long term. It is not a boom/bust scenario where basically you ravage the land, take what you can and get out. There has to be a mechanism there to ensure the long-term costs associated with these developments are also protected to ensure the well-being of the north in the future. Thank you, Mr. Chairman.