Thank you. I understand obviously what type of loan was signed from what I’m hearing. I understand what type of loan was signed. My curiosity continues to be why. It’s beyond me why we would sign a term for the full amortization period. That’s what I find confusing. Okay, so, there’s a penalty if we pay out early. I mean, at some point unless the penalty continues to grow as to the money they would have made considering whether it’s using future value or present value of money or whatnot, but if we actually signed a loan or supported individuals to build infrastructure in the Northwest Territories to sign a loan that obviously is one sided, it’s a long-term loan, you can’t get out of it. If you get out of it you’re going to pay millions. That being the case, at some point it must become feasible for this government to pay the penalty and get out of the loan. At some point. It has to become feasible.

Now, I recognize the fact that maybe we’re guaranteeing this through actual payments of $8 million a year or whatever that is, which actually I don’t believe would be a correct number, that much money over that time period. If you take $8 million a year and times it by 35, that’s $280 million. That’s not a whole lot of interest. But it is some interest on $165 million over 35 years. That’s $115 million in interest. I hope that loan doesn’t indicate they would make good all of that interest. One reason I want to see the details of the loan.

The other is that I don’t believe that number of $8 million in loan payments on an annual basis satisfies this loan at the end of its term. It’s too little. In reality on a basic standard mortgage of 4 percent or whatever it is, you’re going to pay more than one and a half times or one and three-quarters times what the loan is. If you take $165 million and at $115 million that makes it $280 million. That’s less than a regular mortgage, for example. I recognize this is not a mortgage, but like a mortgage it probably has similar infrastructures that they are paying interest on interest and so on and so forth. So something doesn’t quite calculate in my mind. First of all, why would someone sign a loan this way or support the loan in this way?

I’d ask the Minister of Finance again if we could see the details of the loan rather than a briefing note on the details.