Does the committee agree that the Minister bring in his witness?
Debates of June 14th, 2001
This is page numbers 229 - 260 of the Hansard for the 14th Assembly, 4th Session. The original version can be accessed on the Legislative Assembly's website or by contacting the Legislative Assembly Library. The word of the day was program.
Topics
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
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Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
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Some Hon. Members
Agreed.
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
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The Chair David Krutko
Agreed. Sergeant-at-Arms, could you escort the witness in? Mr. Minister, for the record, could you please introduce your witness?
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
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Joe Handley Weledeh
Thank you, Mr. Chairman. With me is the celebrity of the day, Bob McLeod, deputy minister of Resources, Wildlife and Economic Development.
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
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Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 256
Some Hon. Members
Agreed.
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
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Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
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Floyd Roland Inuvik Boot Lake
Thank you, Mr. Chairman. Just further on what the committee stated as an area of concern with increasing the loan limit to $2 million, we asked the Minister to provide us with a list of loans that were applied for in the area of $1 million over the last number of years, and the Minister did provide that information. He did state that loan applications in the area of $1 million that were received, for example last year, it was two and neither were approved. In 1999, there were two and only one approved. In 1998, three and three were approved. It is not a very high demand for the area of $1 million.
The Minister went as far as to show that in the area between $800,000 and $999,000 the amount of applications that were in that area, and again the numbers are not very high. There were none, by what I see, in 1999 or 2000 in that area. There does not seem to be a very high demand, and we know that there is much work going on in the area of oil and gas and the diamond sector, but there is a big push for this. I would like the Minister to elaborate on the need for this, and if there are people waiting for this to happen so that they can get on with their work, so to speak. Thank you.
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
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Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
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Joe Handley Weledeh
Mr. Chairman, the $1 million limit has been in effect for ten years and it is pretty commonly known in the industry that that is the maximum they can apply for. We do have inquiries, and we have been saying to people that the maximum is $1 million. We do not get very many loan applications for more than $1 million. I expect that as we increase the limit to $2 million, we will find people who normally may have to put their business plans on the shelf now coming forward.
We have difficulty estimating how many there would be but expect, given the increased economic activity, that we will see an increase in loan applications. Right now, we have one application before us where the applicant is looking for more than $1 million, but I believe there will be more as soon as this is passed. Thank you.
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
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Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
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Floyd Roland Inuvik Boot Lake
Thank you, Mr. Chairman. There is one company or group waiting for this amendment so that they can apply for more than the $1 million limit? Is there only one? Thank you.
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
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Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
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Joe Handley Weledeh
Mr. Chairman, yes, there is only one actual application before us. They are waiting for this change and they are also waiting for federal funding as well. This is not the only source for their borrowing. Thank you.
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
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Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
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Floyd Roland Inuvik Boot Lake
Thank you, Mr. Chairman. Have there been requests by companies to increase the limit? I understand what the Minister stated. That people know it is $1 million so if they wanted more they just would not apply for it. They would apply for what they needed, I guess, up to the $1 million limit, but have there been requests by companies in the Northwest Territories to increase that limit? Thank you.
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
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Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
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Joe Handley Weledeh
Yes, Mr. Chairman, there have been a number of requests to increase the loan limit.
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
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Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 256
Some Hon. Members
Agreed.
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
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Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 256
Some Hon. Members
Agreed.
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
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Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 256
Some Hon. Members
Agreed.
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
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The Chair David Krutko
Agreed. Bill 1 is now ready for third reading. I would like to thank the Minister and his witness.
As we agreed earlier, the next item we will deal with is Committee Report 4-14(4), Accountability and Oversight Report on the Review of Human Resource Management Study. General comments. Mr. Miltenberger.