Thank you, Mr. Speaker. I am going to speak today about the Government of the Northwest Territories' support, or lack thereof, for the secondary diamond industry. I have asked numerous questions in the past regarding the investment and the support that the GNWT is providing to this industry.
I would like to know if the Minister plans on releasing to the public the cost benefit analysis of government support to the value-added industry. The secondary diamond industry has been a very large contributor to the Northwest Territories economy. It is estimated that between 1999 and 2014, a period of 15 years, this industry will pump a total of $207 million in direct, indirect and induced wages, or an average of $13 million per year, Mr. Speaker.
My concern is that the department has folded up the diamond division, thus sending a poor message and signal to the companies in the value-added industry.
Where is the support going to come from under this new reorganization? What about the protection of the GNWT's heavily invested position in this industry, estimated to be in the neighbourhood of $20 million? We must protect our investment in this industry. The value-added diamond industry here in Yellowknife employs over 160 people. They pay taxes. They rent. They buy homes. They are very positive contributors to our local economy, as I mentioned earlier; somewhere in the magnitude of $13 million a year.
When a factory is telling Members of this House that they can go to Antwerp and buy diamonds from BHP for less than they can here in Canada, I have a problem with that, Mr. Speaker. I understand the Minister is saying that he will look into these concerns, and so he should.
Our factories just want to be treated fairly. Is that too much to ask? Is it our government's intention to slowly kill off the local cut and polish industry? The government has to listen and take immediate action to remedy this situation. Thank you, Mr. Speaker.
---Applause