Thank you, Mr. Speaker. Mr. Speaker, an old saying "red sky at night, sailor's delight; red sky in the morning, sailors take warning." Mr. Speaker, the Good Ship NWT had better look towards the horizon to see if it's a red sky in the morning. Mr. Speaker, I say that because in the budget we've been dealing with, we are just over $2 million from cresting $1 billion in expenditures throughout the NWT. One billion to 43,000 people in the NWT.
Yet, Mr. Speaker, we heard of concerns that health care issues aren't being dealt with, that education issues aren't being dealt with, that economic activities and demands are placing greater demands on our transportation infrastructure and so on. We are having difficulty meeting those needs. Mr. Speaker, as we've gone through this term as the 14th Assembly, we have indeed set high expectations and the residents of the NWT will now look to see if the government can continue to spend as it has spent in the 14th Assembly.
Mr. Speaker, in the Finance Minister's Budget Address, he spoke of initiatives we are doing and potentials we had of our deficit situation. In his Budget Address, Mr. Speaker, in appendix B5, it shows a fiscal framework operation summary. Mr. Speaker, it shows that by the end of the fiscal year 2003-04, total debt will hit $214 million. The 15th Assembly will be looking potentially at a $370 million debt by the first year they are in the government. Mr. Speaker, is this what we have been planning for? We've taken from where we are, we are saying we are leaving the next government better off than the way we found it. Well, we are still close to the debt wall, but the demands out there are going to be higher than ever.
Mr. Speaker, I am concerned that we have looked to the horizon and said that it looks good, but from where I am standing, I see this picture, although they put a rosy lens on at the start of the 14th Assembly, I think we should have been looking to see that "red sky in the morning, sailor take warning." So watch out, Good Ship NWT. Thank you, Mr. Speaker.
---Applause