This is page numbers 1387 - 1432 of the Hansard for the 15th Assembly, 3rd 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.

Return To Question 432-15(3): Record Profits In The Insurance Industry
Question 432-15(3): Record Profits In The Insurance Industry
Item 6: Oral Questions

Page 1394

The Speaker

The Speaker Paul Delorey

Thank you, Mr. Roland. Supplementary, Ms. Lee.

Supplementary To Question 432-15(3): Record Profits In The Insurance Industry
Question 432-15(3): Record Profits In The Insurance Industry
Item 6: Oral Questions

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Sandy Lee

Sandy Lee Range Lake

Thank you, Mr. Speaker. Mr. Speaker, I stated the results from the survey done by CFIB and I would like to know if our government does any statistical surveys or analysis to see what the cost of insurance is in the North for the individuals, businesses and even governments and what the impacts of that are on business. Do we keep any record of that? Thank you, Mr. Speaker.

Supplementary To Question 432-15(3): Record Profits In The Insurance Industry
Question 432-15(3): Record Profits In The Insurance Industry
Item 6: Oral Questions

Page 1394

The Speaker

The Speaker Paul Delorey

Thank you, Ms. Lee. Mr. Roland.

Further Return To Question 432-15(3): Record Profits In The Insurance Industry
Question 432-15(3): Record Profits In The Insurance Industry
Item 6: Oral Questions

Page 1395

Floyd Roland

Floyd Roland Inuvik Boot Lake

Thank you, Mr. Speaker. Mr. Speaker, we have, as a government, looked at the impact of the insurance industry and the rising costs on us as a government. We haven't done a territorial survey on the impact of individuals. We know the general trends and have kept track of them, but we haven't done any specific survey across the North on individuals. Thank you.

Further Return To Question 432-15(3): Record Profits In The Insurance Industry
Question 432-15(3): Record Profits In The Insurance Industry
Item 6: Oral Questions

Page 1395

The Speaker

The Speaker Paul Delorey

Thank you, Mr. Roland. Supplementary, Ms. Lee.

Supplementary To Question 432-15(3): Record Profits In The Insurance Industry
Question 432-15(3): Record Profits In The Insurance Industry
Item 6: Oral Questions

Page 1395

Sandy Lee

Sandy Lee Range Lake

Thank you, Mr. Speaker. Mr. Minister made a commitment to see how we could get involved and, Mr. Speaker, I don't think we can play a meaningful role at the federal level or any other industry level unless we have good information ourselves. So could I ask the Minister to commit to doing our own territorial study on the insurance rates and the impact of insurance for everybody, not just for the government? Thank you, Mr. Speaker.

Supplementary To Question 432-15(3): Record Profits In The Insurance Industry
Question 432-15(3): Record Profits In The Insurance Industry
Item 6: Oral Questions

Page 1395

The Speaker

The Speaker Paul Delorey

Thank you, Ms. Lee. Mr. Roland.

Further Return To Question 432-15(3): Record Profits In The Insurance Industry
Question 432-15(3): Record Profits In The Insurance Industry
Item 6: Oral Questions

Page 1395

Floyd Roland

Floyd Roland Inuvik Boot Lake

Thank you, Mr. Speaker. Mr. Speaker, I did commit to the Members of the House to put some information together and provide a briefing to Members about the impacts of the insurance and what we've been doing. Also, we're encouraged to work with CFIB, I believe it is called, and have agreed to do that. Through the department, we have made some initial contacts and will be getting back to Members with what we've found. Thank you.

Further Return To Question 432-15(3): Record Profits In The Insurance Industry
Question 432-15(3): Record Profits In The Insurance Industry
Item 6: Oral Questions

Page 1395

The Speaker

The Speaker Paul Delorey

Thank you, Mr. Roland. Final supplementary, Ms. Lee.

Supplementary To Question 432-15(3): Record Profits In The Insurance Industry
Question 432-15(3): Record Profits In The Insurance Industry
Item 6: Oral Questions

Page 1395

Sandy Lee

Sandy Lee Range Lake

Thank you, Mr. Speaker. I noticed that the Minister cleverly avoided my question. In doing that background work that he has committed to, could I get the Minister to at least commit to looking at the possibility of doing a statistical study to see what the rising cost of insurance has been for the last three years? Also, to see what negative impact it has on the businesses, as well as individuals. Thank you, Mr. Speaker.

Supplementary To Question 432-15(3): Record Profits In The Insurance Industry
Question 432-15(3): Record Profits In The Insurance Industry
Item 6: Oral Questions

Page 1395

The Speaker

The Speaker Paul Delorey

Thank you, Ms. Lee. Mr. Roland.

Further Return To Question 432-15(3): Record Profits In The Insurance Industry
Question 432-15(3): Record Profits In The Insurance Industry
Item 6: Oral Questions

Page 1395

Floyd Roland

Floyd Roland Inuvik Boot Lake

Thank you, Mr. Speaker. Mr. Speaker, we have done some work on looking at the trends of the industry, much like we have in a number of other areas that we, as a government, have tried to keep a pulse on in the sense of the costs that impact the residents of the Northwest Territories. So I guess the first step is to get the material together that I had committed to, sit down with Members and, at that time, if there's a feeling that we need to go the next step, then we'll look at doing that. Thank you.

Further Return To Question 432-15(3): Record Profits In The Insurance Industry
Question 432-15(3): Record Profits In The Insurance Industry
Item 6: Oral Questions

Page 1395

The Speaker

The Speaker Paul Delorey

Thank you, Mr. Roland. Item 6, oral questions. The honourable Member for Great Slave, Mr. Braden.

Question 433-15(3): Sirius Diamonds Receivership
Item 6: Oral Questions

Page 1395

Bill Braden

Bill Braden Great Slave

Thank you, Mr. Speaker. My questions this afternoon are for the Minister of Finance, and they follow up on the issue of our involvement in the secondary diamond industry. Mr. Speaker, we are currently in the midst of trying to resolve the sale of one facility, the Sirius diamond facility, to a new owner. We've recently had an unsuccessful deal with what I believe is called the Leviev Group in the secondary diamond industry. Now, the question that I would like to ask is whether the GNWT is still involved in any way with the Leviev Group in the sale of this failed venture; the disposal of the Sirius plant. Thank you, Mr. Speaker.

Question 433-15(3): Sirius Diamonds Receivership
Item 6: Oral Questions

Page 1395

The Speaker

The Speaker Paul Delorey

Thank you, Mr. Braden. The honourable Minister of Finance, Mr. Roland.

Return To Question 433-15(3): Sirius Diamonds Receivership
Question 433-15(3): Sirius Diamonds Receivership
Item 6: Oral Questions

Page 1395

Floyd Roland

Floyd Roland Inuvik Boot Lake

Thank you, Mr. Speaker. Mr. Speaker, our involvement has been through the receiver. Once we had gone through the courts and asked that one be appointed, we were involved through the receiver. The last bit of information we were looking for was a waiver from the Leviev Group so that the receiver can go on with the process. That's been the final bit of communication that they've had, is my understanding. Thank you.

Return To Question 433-15(3): Sirius Diamonds Receivership
Question 433-15(3): Sirius Diamonds Receivership
Item 6: Oral Questions

Page 1395

The Speaker

The Speaker Paul Delorey

Thank you, Mr. Roland. Supplementary, Mr. Braden.

Supplementary To Question 433-15(3): Sirius Diamonds Receivership
Question 433-15(3): Sirius Diamonds Receivership
Item 6: Oral Questions

Page 1395

Bill Braden

Bill Braden Great Slave

Mr. Speaker, it has, I think, been at least two weeks now since Mr. Roland advised us of the unfortunate news that we didn't have a deal with Leviev, yet it still seems that we're encumbered by this deal and we can't go on with a new sale. So I just want to seek some clarification here. Are we indeed hung up on some paperwork and restricted or curtailed in any way from trying to move this sale along? Thank you.

Supplementary To Question 433-15(3): Sirius Diamonds Receivership
Question 433-15(3): Sirius Diamonds Receivership
Item 6: Oral Questions

Page 1395

The Speaker

The Speaker Paul Delorey

Thank you, Mr. Braden. Mr. Roland.

Further Return To Question 433-15(3): Sirius Diamonds Receivership
Question 433-15(3): Sirius Diamonds Receivership
Item 6: Oral Questions

Page 1395

Floyd Roland

Floyd Roland Inuvik Boot Lake

Thank you, Mr. Speaker. Mr. Speaker, through the receiver, they have been working with the lawyers from all the parties and we have received the release. The receiver is now making contacts with interested parties regarding the Sirius facility. Thank you.

Further Return To Question 433-15(3): Sirius Diamonds Receivership
Question 433-15(3): Sirius Diamonds Receivership
Item 6: Oral Questions

Page 1395

The Speaker

The Speaker Paul Delorey

Thank you, Mr. Roland. Supplementary, Mr. Braden.

Supplementary To Question 433-15(3): Sirius Diamonds Receivership
Question 433-15(3): Sirius Diamonds Receivership
Item 6: Oral Questions

Page 1395

Bill Braden

Bill Braden Great Slave

Mr. Speaker, we continue to put money in to continue to maintain the plant as a going concern, hoping that there will be a qualified buyer out there. Does the Minister have any sort of criteria on this; for instance, any deadlines, any drop-dead dates? At what point, Mr.

Speaker, might we be making a decision that there is no qualified buyer out there and we have to go to plan B? What kind of criteria are we looking at? Thank you.

Supplementary To Question 433-15(3): Sirius Diamonds Receivership
Question 433-15(3): Sirius Diamonds Receivership
Item 6: Oral Questions

Page 1396

The Speaker

The Speaker Paul Delorey

Thank you, Mr. Braden. Mr. Roland.

Further Return To Question 433-15(3): Sirius Diamonds Receivership
Question 433-15(3): Sirius Diamonds Receivership
Item 6: Oral Questions

Page 1396

Floyd Roland

Floyd Roland Inuvik Boot Lake

Thank you, Mr. Speaker. Ultimately, the criteria would be a financial one if it was, in fact, still financially viable to continue with this process, or if it was time to pull the plug, as they say. Thank you.

Further Return To Question 433-15(3): Sirius Diamonds Receivership
Question 433-15(3): Sirius Diamonds Receivership
Item 6: Oral Questions

Page 1396

The Speaker

The Speaker Paul Delorey

Thank you, Mr. Roland. Your final supplementary, Mr. Braden.