Thank you, Mr. Chairman. I just have a question on the Minister's opening comments, item number two where it speaks about the removal of $1 million associated with the hydro power initiative and it further states that this work has been transferred to the Northwest Territories Power Corporation. I am wondering if the Minister can advise us as to whether any money is being transferred to the Northwest Territories Power Corporation on this initiative.
Debates of Feb. 27th, 2003
This is page numbers 365 - 404 of the Hansard for the 14th Assembly, 6th 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 chairman.
Topics
Clear And Consistent Financial Reporting Protocols
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 395
Clear And Consistent Financial Reporting Protocols
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 395
Clear And Consistent Financial Reporting Protocols
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 395
Joe Handley Weledeh
Mr. Chairman, in the current year, 2002-2003, we transferred approximately half a million dollars. Next year there is no money to be transferred. Thank you.
Clear And Consistent Financial Reporting Protocols
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 395
Clear And Consistent Financial Reporting Protocols
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 395
Sandy Lee Range Lake
Thank you. Once there, then, what sort of mandate or direction went with that $500,000 for this year? Thank you.
Clear And Consistent Financial Reporting Protocols
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 395
Clear And Consistent Financial Reporting Protocols
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 395
Joe Handley Weledeh
Mr. Chairman, the mandate that went with the money is the same mandate that was originally with the Financial Management Board Secretariat and that is to continue to explore, do research and feasibility reviews on potential hydro projects in the Northwest Territories. Thank you.
Clear And Consistent Financial Reporting Protocols
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 395
Clear And Consistent Financial Reporting Protocols
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 395
Sandy Lee Range Lake
Thank you. Is it possible for the Minister to provide a copy of any written document that pertains to that correspondence to the Northwest Territories Power Corporation stating this mandate? Thank you, Mr. Chairman.
Clear And Consistent Financial Reporting Protocols
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 395
Clear And Consistent Financial Reporting Protocols
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 395
Joe Handley Weledeh
Mr. Chairman, we can provide a copy of the contribution agreement. That, I think, will answer the questions. Thank you.
Clear And Consistent Financial Reporting Protocols
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 395
Clear And Consistent Financial Reporting Protocols
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 395
Sandy Lee Range Lake
Could I be also provided with the total money spent on this hydro power initiative by the Financial Management Board Secretariat in the life of its program? I think it is the last two or three years. An itemized account of it. Thank you.
Clear And Consistent Financial Reporting Protocols
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 395
Clear And Consistent Financial Reporting Protocols
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 395
Clear And Consistent Financial Reporting Protocols
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 396
Clear And Consistent Financial Reporting Protocols
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 396
Charles Dent Frame Lake
Thank you, Mr. Chairman. I have some questions around one of the items the Minister mentioned in his opening comments. It has to do with the funding increases. In point three of his opening comments was a $150,000 increase related to the issuance of monitoring loan guarantees to support the establishment of secondary industries in the Northwest Territories. Are these typically related to the diamond polishing guarantees that we make, Mr. Chairman?
Clear And Consistent Financial Reporting Protocols
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 396
Clear And Consistent Financial Reporting Protocols
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 396
Joe Handley Weledeh
Yes, Mr. Chairman, certainly the loan guarantees in the diamond industry is part of it. We also anticipate that as the Mackenzie Valley pipeline issues heat up and become more likely, we are going to see more and more requests for loan guarantees. Thank you.
Clear And Consistent Financial Reporting Protocols
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 396
Clear And Consistent Financial Reporting Protocols
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 396
Charles Dent Frame Lake
Thank you, Mr. Chairman. Can I get an idea of what sorts of loan guarantees the Minister envisions coming from the Mackenzie Valley development?
Clear And Consistent Financial Reporting Protocols
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 396
Clear And Consistent Financial Reporting Protocols
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 396
Joe Handley Weledeh
Mr. Chairman, we do not have a full policy developed yet that will include the oil and gas industry, but we have been reminded continually by some Members that there is need for us to be open to having loan guarantees to businesses that can show us that they are likely viable and to be prepared for that eventuality when it happens with the oil and gas industry, as well as with any future mining that might be happening, or, in fact, for any other ones that may seem appropriate. Mr. Chairman, simply put, the policy has not been developed yet to do that. Thank you.
Clear And Consistent Financial Reporting Protocols
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 396
Clear And Consistent Financial Reporting Protocols
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 396
Charles Dent Frame Lake
Thank you, Mr. Chairman. Have we had to make good on any guarantees yet in the secondary diamond industry?