Thank you, Mr. Chairman. I guess I am one of the few Members who is in support of this tax. I believe we have to diversify our economy in the Northwest Territories. The way the money is running these days, it is not diversified.
People say the diamond industry is great for the Northwest Territories. However, I have a newsletter here from BHP Incorporated and they have some statistics. They talk about business expenditures. Approximately $356,000,000 was spent on expenditures from the company; $280,000,000 of that was spent in the Northwest Territories; 96.7 percent or $271,000,000 was spent in Yellowknife; 3.2 percent was spent in Hay River, $8,900,000; other Northwest Territories communities, 0.1 percent was spent everywhere else, $277,000. That is not diversification.
If we could introduce a tax that would get some money back and help diversify the economy of the Northwest Territories, I think I have to support that.
I have one community, Fort Resolution, that does not get too much action from these diamond mining companies. This government just cut the budget for a sawmill. They are seeing the most depressive economic times in the last 20 years. If we could bring tourism into that community using revenues from this tax, I have to support that, because certainly BHP Incorporated is not doing a great job in the areas of purchasing and whatnot in that area.
Sure they may not have the capacity, but the whole Northwest Territories, outside of Hay River and Yellowknife in the diamond industry, anyways does not have the capacity.
I have to support initiatives that are bringing revenue that might help diversify the economy of the Northwest Territories and I am in full support of that. Thank you, Mr. Chairman.