Thank you, Madam Chairperson. The Premier responded to a question from yourself, Madam Chairperson, about how capital projects are financed. Typically the government uses a variety of forms of financing from cash on hand to short-term borrowings to long-term borrowings, depending on what it takes to finance the operations of the government. In this situation, it had been proposed that to carry on with the plan as was first projected, we would have been spending $35 million. As things stand now, we will be spending $30 million, so in fact we have found a way to do this less expensively than we might otherwise have done. The government typically chooses the best way to finance a project by what its needs are at any given time. The government does borrow money. In fact, when I became Minister of Finance, we were some $40 million in debt in short-term notes. I believe that figure is probably much reduced by now, but it all has to do with how our finances, our revenues flow. We do often borrow money..
Charles Dent on Motion 44-13(7): Termination Of Planning For New Yellowknife Correctional Centre
In the Legislative Assembly on July 30th, 1999. See this statement in context.
Motion 44-13(7): Termination Of Planning For New Yellowknife Correctional Centre
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
July 30th, 1999
Page 747
See context to find out what was said next.