Thank you, Mr. Speaker. Mr. Speaker, for the scenario we entered into as Members of the 15th Assembly, with the fiscal forecast as it was, we laid out our fiscal strategy which included three years of reductions. The first budget we brought in had a $10 million capping of government expenditures plus own source revenues of $10 million.
This is our second piece of that. There is a $20 million reduction scenario that we are looking at and year three of the plan would bring another $20 million in reduction. With our fiscal picture changing as it is, we may not need to see any large-scale reductions coming in the third year. This is the second year of our budget, following through with the capping growth of government at about $26 million.
When we first laid out the plan, our fiscal picture was much more difficult than it is now. As we have it now, it is getting somewhat better, but we still have to be prudent in how we manage our programs. Thank you.