The Opportunities Fund itself is a substantial amount of money, in the neighbourhood initially of $128 million. A decision like that by Cabinet to go from a passive investment vehicle to something which is very high risk, I think that’s a decision and a question that should have been asked of all Members of this House. There is a number of Members on this side of the House that have some good ideas about how to stimulate our own northern economy and perhaps even borrowing some of the money ourselves and looking at our own stimulus package. You know, we never had the chance, and like I said, the Minister showed up, and the reason I am asking the Minister of Finance this is because FMB made the decision, even though the Minister of ITI --and ITI oversees the Opportunities Fund; the decision was made by FMB, which is chaired by the Finance Minister. I would like to ask the Minister of Finance, did the society and the senior officials supply FMBS with a recommendation to pursue this risky investment and where is that recommendation, Mr. Speaker? Thank you.
David Ramsay on Question 62-16(3): Opportunities Fund Loan To Discovery Air Inc.
In the Legislative Assembly on February 5th, 2009. See this statement in context.
Question 62-16(3): Opportunities Fund Loan To Discovery Air Inc.
Oral Questions
February 4th, 2009
See context to find out what was said next.