Thank you, Mr. Speaker. I will remain consistent with the theme of my Member's statements for this week, using wording that is complimentary to the federal budget address. Although the document acknowledges that much of the funding will not be administered through the Government of the Northwest Territories, this still gives my constituency much relief; the federal government will, once again, make a large investment in supporting a social economy in the North. It is nice to read that the federal budget provides new pilot program funding for the social economy and community economic development organizations for capacity building, financing and research. Although the plan for the projected $90 million in economic development funding has not been established, we feel that this investment is nothing short of a plus for northern economic development programs.
Mr. Speaker, it is encouraging, as well, to see that northern oil and gas development will also see an investment of $75 million over three years to increase federal and regional environmental assessment capacity and streamline the regulatory process. It is exceptionally beneficial for my region of the Northwest Territories as it provides for more research for work associated with development in the Mackenzie Delta/Beaufort Sea area.
Mr. Speaker, this funding announcement is crucial to the ongoing commitment to support the oil and gas activity in the North. I am pleased to have read the observations provided by the Minister of Finance this morning. Thank you, Mr. Speaker.
---Applause