Thank you, Madam Chair. Madam Chair, I guess if it is a dreamt up item, the dream started back in 1999. That is when work was initially done from within Finance and Executive to look at the fact that we needed to start addressing this side of the equation. As stated, and as the Member stated as well in his discussions with the Minister of ITI, other departments do have some areas, but that would be in the micro policy side or economic policy side where they're sector specific. But as a government and as laid out and when we look at other jurisdictions across the country, the macroeconomic policy is usually defined as one as a use of government spending, taxing, borrowing, regulatory and trade policies, as well as the monetary policy to influence economic variables such as employment, production and economic growth and prices. That is why it would fit in here.

Back in 1999, the Department of Finance had worked and commissioned a study to look at the macroeconomic framework in the NWT. As well, in 1999, there was work along with the then Department of Resources, Wildlife and Economic Development, commissioned a Canada West Foundation to conduct a workshop on development strategies in the NWT. So that work has been done in this area. It has been looked at. It was felt at this time, when we looked at all the things that are happening around and it was approved, we then put this in place. Thank you.