Thank you, Mr. Chairman. I am pleased to introduce the main estimates of the Department of Finance for 1998-99.

For 1998-99, the Department of Finance is requesting a total expenditure budget of $8,898,400 or 6.2 percent less than in 1997-98. This expenditure budget is accompanied by a revenue budget of $1,015,942,000.

The Department of Finance provides advice to Cabinet and the Financial Management Board and otherwise serves the government in five principal areas.

A second departmental responsibility is the preservation of the government's financial and other assets by managing the government's cash, borrowing and banking arrangements and by managing a Comprehensive Insurance Program.

Third, the department develops, interprets and disseminates statistical data about the Northwest Territories.

continues to focus on the strategies to ensure that the necessary funding is in place for Nunavut and the Western Territory by April 1, 1999. Negotiations have begun and are continuing with the federal government, the Interim Commissioner, NTI and yes, the Western Coalition on appropriate funding levels and mechanisms for the two new territories. We hope to conclude these discussions by early March so that a federal decision can be made by April.

In addition, the department will work toward the creation of separate statistical and taxation data bases by April 1, 1999. More specifically targeted to the government's priorities of improving social and economic conditions are the two tax initiatives which I announced last week. The Department of Finance is working to develop the necessary legislation for the implementation of the NWT Child Benefit and the NWT Equity Investment Tax Credit Programs. Thank you, Mr. Chairman.