Thank you, Mr. Speaker.

WHEREAS the intent of the Business Incentive Policy (BIP) has been to support the development and growth of the NWT business community and to encourage investment in the North;

AND WHEREAS northern businesses support the NWT economy by purchasing local goods and services, providing jobs and training, and reinvesting their earnings;

AND WHEREAS, in recognition of the higher costs of operating a business and developing new products in the NWT, northern businesses may need preference adjustments to compete successfully and fairly for government contracts;

AND WHEREAS the Cabinet has the authority to waive the Business Incentive Policy in appropriate circumstances;

AND WHEREAS the current Business Incentive Policy is grandfathered under trade agreements including the NAFTA and the Agreement on Internal Trade, which would not permit a new policy of this nature to be brought forward at a later date;

AND WHEREAS business representatives have spoken out in favour of retaining the principles of the existing Business Incentive Policy and in support of a policy that is more reflective of modern challenges while reinforcing and recognizing northern investment in our territory and communities;

AND WHEREAS previous Assemblies have undertaken protracted consultations that have always culminated in the retention of the Business Incentive Policy;

NOW THEREFORE I MOVE, seconded by the honourable Member for Hay River South, that this Legislative Assembly strongly recommend the government cease considering the elimination of the Business Incentive Policy;

AND FURTHER that this Legislative Assembly strongly recommend the government consider and undertake public discussion on options to revise the policy to better direct it to the benefit of businesses who file their taxes in the North.