Thank you, Mr. Chairman. So now with the new limit of $25,000 if, for instance, in this fiscal year we run up against that $300,000 ceiling quickly, will we look in future years at raising the amount of money in the pot?
Debates of Feb. 28th, 2002
This is page numbers 237 - 275 of the Hansard for the 14th Assembly, 5th 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 housing.
Topics
Item 20: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 20: Consideration In Committee Of The Whole Of Bills And Other Matters
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Item 20: Consideration In Committee Of The Whole Of Bills And Other Matters
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Bob McLeod
Yes, we would hope that would be the case, but we have not had the problem this year where we have been fully expended on any region. There might be one region where we are close to utilizing the full amount of the regional allocation. Thank you.
Item 20: Consideration In Committee Of The Whole Of Bills And Other Matters
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Item 20: Consideration In Committee Of The Whole Of Bills And Other Matters
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Brendan Bell Yellowknife South
Thank you. One other question in the area of market disruption, and these stem from the questions asked by Mr. Dent, it makes a lot of sense for me that when we are in the business of doling out grants to corporations, we would certainly look at market disruption. I know we look at level one, two and three communities and we do make distinctions between them, but I am wondering in the area of loans. This is the first I had really thought of it. It seemed very natural or normal to me that we would not consider market disruption when we are talking about loans and we do charge a higher rate of interest. Does the Minister have experience with other provincial lending agencies that would be characterized as lenders of last resort, as to whether or not they consider market disruption?
Item 20: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 20: Consideration In Committee Of The Whole Of Bills And Other Matters
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Item 20: Consideration In Committee Of The Whole Of Bills And Other Matters
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Bob McLeod
My understanding is in most jurisdictions, they let the private sector take care of itself, because they have to borrow the money. Generally, if you have to borrow the money, it is a free market system, so that is generally the way they operate. Thank you.
Item 20: Consideration In Committee Of The Whole Of Bills And Other Matters
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Item 20: Consideration In Committee Of The Whole Of Bills And Other Matters
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Brendan Bell Yellowknife South
Thank you. So if I heard the deputy correctly, then by not considering market disruption for our loans, we are not doing anything that seems out of the norm, or out of normal practice, I guess, for other jurisdictions?
Item 20: Consideration In Committee Of The Whole Of Bills And Other Matters
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Bob McLeod
That is my understanding, but as I said earlier, we do take into account the ability to repay a loan. If a project or a proposal is not viable or feasible, then we will not lend the money. Thank you.
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Brendan Bell Yellowknife South
Yes, I would certainly think that would be the case, and I thank the deputy minister for that answer. Thank you.
Item 20: Consideration In Committee Of The Whole Of Bills And Other Matters
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Charles Dent Frame Lake
Thank you, Mr. Chairman. I obviously take a different point of view than Mr. Bell, because I think if we are going to write off 14 percent of these loans, that is not letting the market look after itself. If we are letting the market look after itself, we would make everybody compete on a level playing field and let them go to a bank.
If we are going to interfere in the market and give a leg up to some businesses, then I think it is important that we make sure that market disruption is taken into account.
I guess one of the reasons I am particularly concerned about that is the small size of our business community in the North. I think the government has to be very careful about any interference there. I will leave that and move on to another area.
I am interested in finding out, as the Minister will know, what is happening with the Wildlife Act review?
Item 20: Consideration In Committee Of The Whole Of Bills And Other Matters
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Item 20: Consideration In Committee Of The Whole Of Bills And Other Matters
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Jim Antoine Nahendeh
Thank you, Mr. Chairman. Mr. Chairman, the department has completed the second round of public consultation. The department has met with the wildlife aboriginal advisory group to finalize its recommendation on the legislation. A report of the recommendation from this WAAG group has been provided to my office. We in RWED have analyzed the results of public consultation and the department is preparing a policy position on the major issues. We will be preparing an information document for public distribution this summer.
It would be outlining the results of the consultation that we have undertaken with the hunters and the wildlife groups, and a proposal on the major issues for a new Wildlife Act and species at risk will be in this proposal.
We should be ready. We are on-stream. We think that the earlier information that we provided, we are still aiming for a new wildlife legislation to come into force during the fall of 2003, so we have a number of steps we have to go through in that whole process. Thank you.
Item 20: Consideration In Committee Of The Whole Of Bills And Other Matters
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Charles Dent Frame Lake
Thank you, Mr. Chairman. Mr. Chairman, the Minister said they are hoping to have the Wildlife Act, the new legislation, come into force in the fall of 2003. I am guessing that because of the timing and when we might expect the next election, and the last session that this Legislature will probably sit will be at the latest June, 2003, is the Minister saying that the act will then have to be passed by the 15th Assembly?
Item 20: Consideration In Committee Of The Whole Of Bills And Other Matters
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The Chair David Krutko
The Minister responsible for Resources, Wildlife and Economic Development, Mr. Antoine.
Item 20: Consideration In Committee Of The Whole Of Bills And Other Matters
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Jim Antoine Nahendeh
Maybe I should just backtrack there and say that for this summer and fall, we would like to have legislation drafted. We estimate about eight to 10 months for the drafting because we have just finished the consultation. We are aiming for the summer and fall to have legislation drafted, and by November 2002, we hope to have draft legislation to Cabinet for approval to proceed. Following that, the draft legislation to go to the Legislative Assembly in November, next fall, and then, of course, the standing committee would review the draft legislation. By next winter/spring 2003, we would like to deal with the legislation through a legislative process. By late spring, we are aiming for the legislation to be concluded in the House. That way, by the fall of 2003, the act will come into force. That is our timing on it right now. We think we are still on target. Thank you.
Item 20: Consideration In Committee Of The Whole Of Bills And Other Matters
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Charles Dent Frame Lake
Thank you, Mr. Chairman. I would like to ask some questions on page 11-16 regarding the description of what diamond projects does. It says in here that diamond projects develops programs to address access to diamonds. What specifically do we mean by programs to address access to diamonds?
Item 20: Consideration In Committee Of The Whole Of Bills And Other Matters
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Item 20: Consideration In Committee Of The Whole Of Bills And Other Matters
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Bob McLeod
Thank you, Mr. Chairman. What we mean there, for example, the Member is familiar with BHP, where the government dealt with the company to provide rough diamonds for local manufacturing. Essentially, we are continuing to facilitate that. We are looking at entering into negotiations with Diavik and De Beers to ensure that occurs. Thank you.