Thank you, Mr. Speaker. I have a return to an oral question asked by Mr. Bell on February 29th, on accounting for tangible capital assets.

The government is planning on implementing the new approach to accounting for tangible capital assets in the 2000-2001 fiscal year.

A work plan has been developed which includes an initial inventory and valuation of capital assets to enable an estimate of the amortization expense to be included in the 2000-2001 main estimates. Although some delays have been encountered, we do expect that departments will have completed the initial inventory in time to implement the changes with the 2000-2001 main estimates.

The amortization expense included in the main estimates will be our best estimate based on information currently available. We will be working with departments to refine the valuation and amortization of capital assets.

We may encounter a number of issues related to the valuation or title of assets. These issues will need to be clarified and corrected prior to finalizing the reporting of the tangible capital assets in the 2000-2001 public accounts. However, we still anticipate being able to complete the exercise during the 2000-2001 fiscal year.

Actual amortization expenses for the 2000-2001 fiscal year will vary from the amount included in the main estimates as we progress in resolving valuation and title issues. Thank you, Mr. Speaker.