I believe I said that as a government, we are looking at our tax options — those that we have on the books as well as those that would require a legislative initiative if brought back to this Assembly.
As we know from past practice, when governments make adjustments, even adjustments with existing
legislation, it can have a lag time of at least a year to two years before you actually start to see the net results of any change — in some cases, sooner.
For example, one of the avenues my past government practised was to raise the corporate tax. It didn’t take very long for corporations — and even our aboriginal corporations — to look at their net impact and decide that they’ll put their money in other areas outside of our Territory, which has almost an immediate impact on lost revenue in the Territories. So we have to work out that balance.
But yes, as I stated, we’re looking at new initiatives to bring this back to this table for input.