Thank you, Madam Chair. There are four things I'd like to reflect on. In a sense, it's to project to February 1, 2006, Madam Chair, which I think is the date agreed upon to resume this session, and the expectation that on opening day in February, we're going to have another sessional statement, and that the Premier will be able to address, among other things, these four areas, being the fiscal situation that we find ourselves in, the very dynamic, rapidly changing and, regrettably, more and more volatile and uncertain fiscal situation that we have. Madam Chair, that not only changed this week with the use of a major shortfall in corporate income tax revenue and the impact that's it's going to have -- a $10 million impact, approximately, on programming this year and in subsequent years -- but also, Madam Chair, on the big process that we had all engaged in to look at our overall formula financing agreement, which has now been probably, very likely, delayed by several months. I think the reality is, maybe, more or less a year. These are major pieces of our fiscal planning and, certainly, the framework, and I am really hoping the Premier will be able to talk about that next February.
A third area, Madam Chair, would be -- as we've just been talking about this today -- the future of the Mackenzie Valley pipeline, and just how that is going to come together. We're facing some significant deadlines in the next couple of weeks. But even after that, if those are resolved in the project's favour, and I certainly hope they are, no doubt there will be more news and more things to come over the next few weeks, between now and February 1st.
The other, I think, sort of major item that the Premier, I hope, will be able to address in February, will be the ongoing impact of the major spike in fuel and energy costs. We've undertaken some steps to see what we can do to assist consumers, and communities, and constituents, over the next few weeks. But there will be, also, a significant fiscal impact on our government, because of the extra, the unbudgeted costs that we're going to incur this winter, along with everybody else who has a furnace to run, lights to keep going, and utilities to operate.
Madam Chair, although we know that that's coming, it was not addressed in the supplementary bill that we've just concluded. I understand the process well enough now that if we can't predict something, that it's not within our rules to put something on the books. But this is going to be in the millions. We have that fiscal situation to grapple with, along with everything else, this current fiscal year. So we're running close to the bone. I remain very confident of our ability to keep going and to keep running a good ship, but we're running out of free board here, largely from things that are out of our control, and we need to keep a very steady hand at the teller. That's all. Thank you, Madam Chair.