Thank you, Mr. Chairman. We had the public meeting and I mentioned this at that time. I'll mention it again. If you are forced into a situation where you have no choice, and I think the Minister has explained that, that under the formula financing arrangements with Ottawa we had no choice but to increase our corporate tax rate from 12 percent to 14 percent. The Minister has admitted that and everybody understands that; no choice. When you're in a situation where you have no choice, you have to have some way to go back and try to seek some damages from somebody for forcing you into a position that's not your own doing, and I think we can prove beyond a shadow of a doubt that the previous formula financing arrangements with Ottawa were punitive to the Northwest Territories, it harmed us, we lost $30 million, Mr. Chairman. My estimation is we'll lose probably $60 or $70 million more before the dust settles. Now is it our fault that we lost this money? No. I go back to the formula financing arrangements that we had in place that forced us to raise our rate from 12 percent to 14 percent. Why can't we demand some action from somebody, somewhere to recognize that fact? Am I the only one that's seeing it this way? I don't understand. Some days I feel like maybe I'm going crazy or something, but somebody is responsible here. Somebody has to tell me that they are going to address the fact that we were pushed into a corner. As a territory we just accept the fact that we have to pay, and that's not acceptable to me. Why do we just continue to accept that fact? Why can't we stand up and demand some answers and demand some action? This is just the start of it. Thank you, Mr. Chairman.
David Ramsay on Item 16: Consideration In Committee Of The Whole Of Bills And Other Matters
In the Legislative Assembly on February 28th, 2006. See this statement in context.
Item 16: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 16: Consideration In Committee Of The Whole Of Bills And Other Matters
February 27th, 2006
Page 1450
See context to find out what was said next.