Thank you, Mr. Speaker. Mr. Speaker, today I would like to speak on the issue of the Northwest Territories Business Incentive Policy and the proposed revisions to that policy.

The BIP was put in place 18 years ago as a means of giving a competitive advantage to northern companies bidding on government contracts for the supply of goods and services. The intent was to enhance the growth of northern companies in the belief that this would create direct and indirect employment and many other positive effects on a northern economy. I believe, to a large extent, the Business Incentive Policy has been successful in accomplishing that. Granted, many circumstances affecting the northern economy have changed since then.

In communities like Yellowknife, government contracts are not the major contributing factor to succeeding in the construction sector, for example, as they once were. Much activity is now driven by the private sector. Many northern and aboriginal companies have grown and are quite successful and competitive. The argument is made that this maturing makes the BIP less important and relevant. The capital budget of the Government of the Northwest Territories is shrinking and some would argue that this reduced amount makes it incumbent upon the government to get more for their limited resources, suggesting that without the BIP this would be better achieved.

Mr. Speaker, I agree that times have changed and it is good to examine government initiative and policies from time to time to ensure they are still accomplishing what they were intended to. However, there has been some very critical information missing in the recent discussion and consultations about the BIP. We need a clearer picture of what the Business Incentive Policy is actually costing. Then, we need a clearer accounting of what we are gaining from that premium. Without that information in hand, I believe it would be premature to make any substantial changes to the policy. We can't proceed on anecdotal piecemeal information.

I'm also concerned about the scope of the proposed changes. I think minor adjustments may need to be made to address areas which could improve the outcome of the policy. But, the kind of sweeping and wholesale changes that are being proposed cannot be done in the absence of a clear articulation of the costs and benefits. I hope the Minister will act to put in place an effective monitoring plan over the next year. When and only when that information becomes available would I support revisiting revisions to the Business Incentive Policy. Thank you, Mr. Speaker.