Thank you, Mr. Chairman.
Colleagues, on behalf of the Department of Industry, Tourism and Investment I am pleased to present the proposed Main Estimates for the fiscal year 2008–2009. These estimates propose total operational expenses of approximately $45.6 million for the coming fiscal year. This represents a 4.1 per cent, or $1.6 million, reduction in the overall operating budget of the department prior to the investment of $8.3 million in strategic and other initiatives. These Main Estimates also propose a total capital investment over three years of $7.4 million, dedicated entirely to the NWT parks and tourism system.
Mr. Chairman, the mandate of the Department of Industry, Tourism and Investment is to encourage economic development and foster economic self-sufficiency in the Northwest Territories. This mandate supports the commitment of our government that all residents of the Northwest Territories must have the opportunity to build a stronger future for themselves, their families and
their communities. To that end, our determination in this budget was led by the simplest of tests: will our work contribute to an improvement in the quality of life for all NWT residents, will it maximize opportunities for residents, their businesses and their communities, and will it contribute to a reduction in the rising cost of living here in the Northwest Territories?
We will continue to work directly with regions and communities to develop sustainable local economies and to reduce regional and community disparity. As a government we are acutely aware that the value of our traditional economy and our fur industry, in particular, far exceeds what is evidenced in economic terms or statistics. Investments in the traditional economy, the arts and crafts sector and tourism will help our residents to bridge the gap between subsistence and survival and provide a reliable and sustainable safe haven against the fluctuations of a boom-and-bust economy.
Funding for cultural interpretive programs in our parks and for the Tourism Product Diversification and Marketing Program will continue to build tourism in the Northwest Territories in a manner that will drive the development of viable and sustainable small business ventures in each of our Territories’ 33 communities. This budget includes significant capital increases for new parks, infrastructure and enhancements to existing parks, critical investment in tourism infrastructure that will allow us to meet a rising market demand for unique tourism products such as only the Northwest Territories travel experience can provide.
We are aware that support programs remain essential to developing businesses in the Northwest Territories and especially in smaller communities. This budget, therefore, proposes new funding for programs that will support entrepreneurs and economic development under a new support to entrepreneurs and economic development policy, SEED.
Our residents, businesses and corporations are now looking beyond jobs and contracts that follow the boom and bust of construction and exploration cycles. Instead, they are finding ways to take a direct role in our region’s economic growth as business owners, operators and investors. The advancement of the Mackenzie Gas Project is a primary example. It will mark the beginning of a new era of economic opportunity for the Northwest Territories, of increased jobs and business opportunities. This budget renews our commitment to the Mackenzie Gas Project and to the Mackenzie Valley Pipeline Office, which will coordinate our government’s planning in response to this project.
We will also continue our support of the Aboriginal Pipeline Group. It has set the bar for a new model
of aboriginal participation in the economy through its shared ownership of the Mackenzie Gas Project.
While interest and investment in the NWT are rising so, too, is the cost of living and working here. It is an unacceptable irony that while we have a tremendous supply of energy resources, the cost of energy in our communities remains expensive and is the single most significant contributor to our high cost of living. The development of hydroelectricity to reduce the cost of living in our communities and to power our mines and future oil and gas developments epitomizes the concept of sustainable development that we so widely promote.
This budget identifies significant investment to advance the Taltson Hydro Expansion Project through the regulatory process and into the pre-construction stage. It provides funding to build on this particular model, to advance other hydro development in the interest of further reducing the cost of living in the future. Reliable and affordable energy should be available in all NWT communities, and in the short term this budget also identifies investment that will allow us to consider and review the regulatory and administrative systems related to the provision of electricity in the NWT.
Mr.
Chairman, colleagues, these initiatives and
strategic investments highlight the ongoing work of the Department of Industry, Tourism and Investment to promote the growth of a vibrant, diverse and sustainable economy for the Northwest Territories. Thank you, Mr. Chair.