Thank you, Mr. Chairman. I guess the first part of that is the weight I would place in the call that I had and the following actions from that call. February 27th I believe was
the date. I had a call with Minister Flaherty discussing with him the fiscal situation we could find ourselves in as the Government of the Northwest Territories when it comes to the debt situation and the Deh Cho Bridge Project and the call of the lenders to assume that debt. At that point he said he would work with us to deal with that debt.
Following that, we have had discussion between Finance Canada staff and our staff here and we’ve put forward a proposal. We know that they are working on language for Minister Flaherty to bring forward and I’m hoping within a matter, and it’s difficult on this to say, that within a couple of weeks he may be able to address that or get back to us on what the specifics are on that. But he said they would be looking to deal with this in a very timely manner, recognizing this was a couple of days before he was about to address the nation on his budget process. So we realize that they’ve been very busy there, but in that business they have contacted us. We have exchanged a proposal and we know that they are working on wording to go forward that would protect us.
Now, saying that, we could pass this bill today and that won’t affect our debt wall. We won’t go over our debt wall. If we did not get relief, our debt wall would be impacted in 2011-2012, the latter part of the last year of our term. So we’ve got a window to work with and I’m counting on, again, the commitment from Minister Flaherty that he would deal with this in as timely a manner as he can bring it forward on.