Thank you, Mr. Speaker. Good afternoon. We are living in a very interesting and exciting period, with many changes and developments happening in the Northwest Territories. In recent years, we have seen diamond mine activity in the North Slave geological area, proposed oil and gas development along the Mackenzie Valley, discussion of the potential for hydro activity in the South Slave and Sahtu areas, and progress in self-government development including the creation of the Tlicho Government. Each of these new developments brings with it the requirement for labour supply and for new skills.

Education continues to be the key to whether a person can take advantage of the opportunities that present themselves. It is no secret, Mr. Speaker, the higher your level of education, the better your chance of employment. Now, more than 70 percent of new jobs require at least some post-secondary education or training.

The Government of the Northwest Territories, through its Student Financial Assistance program, SFA, provides support for northerners to pursue a post-secondary education and encourages students to return to the North upon graduation. Each year, approximately 1,400 northerners are supported through the SFA program. These students are enrolled in a range of certificate, diploma, and degree-level programs in institutions across the country. Supporting these students is one of the most important investments we can make to ensure we have a well-educated population able to prosper and take advantage of opportunities in the North.

Mr. Speaker, when we talk with other jurisdictions, they often tell us that our SFA program is one of the best programs in the country. The funding we provide in the form of grants, remissible loans, scholarships and other loan supports is generally higher than elsewhere, and our remission program is second to none. Nonetheless, we must continually monitor how well our program is supporting the education goals of our students. In addition, we need, on occasion, to make adjustments to the program that are fair, affordable and within the overall intent of assisting students.

Effective with the 2005-2006 academic year, there are a number of changes that have been made to the SFA program that will improve support for our students. Students will now be required to complete 60 percent of a full course load instead of 75 percent to be considered full time. We have also clarified the eligibility criteria for academic merit scholarships and eliminated the restrictions that were previously in place that disqualified students from support if they were employed full time.

The changes this year are, I believe, important for supporting our students in a fiscally responsible manner. We are also considering other parts of the program that could be altered. For example, we are looking at amending the academic performance requirements of students so that oversight occurs on an annual basis rather than on a semester-by-semester basis. We are also examining how we provide travel benefits to students with the view to providing cash rather than the current voucher system.

Mr. Speaker, each possible change will be weighed carefully to get the right balance, providing a meaningful level of support that encourages students to start and continue their studies, and providing support within our government's fiscal means. Thank you, Mr. Speaker.

---Applause