Thank you, Mr. Chairman.

Maximizing Benefits from Resource Extraction

Committee members noted with concern the lack of proposals to increase revenues to the government from non-renewable resource extraction. Members identified a number of potential revenue streams, including owning equity stakes in diamond mines and oil and gas production, implementing a mineral or resource tax and exploring opportunities to expand secondary and tertiary industries related to diamond and oil and gas production.

Mr.

Chairman, that concludes the committee’s

comments on ITI’s Main Estimates. I’d just like to thank Ms. Cate Sills, our committee researcher, and Ms. Patricia Russell, our Committee Clerk, for all of their help and efforts through the process.