Thank you, Mr. Chairman. I’m not speaking for committee, but I certainly am sure in some ways when I say this is a very exciting opportunity for the people of the Northwest Territories to have this fund come forward.

Mr. Chairman, I had hoped over the years, over the course of the last four years that the government would develop what I call a revenue stabilization fund to help assist with corporate revenues when

they go down due to downturns or re-filing of corporate taxes, and the problem with the Northwest Territories is we have a very challenging opportunity before us when we need to raise own source revenues. So when $10 million falls out of the kitty due to some re-filing of taxes or there’s a downturn in the economy, it’s really challenging for the Northwest Territories to respond. But in response to that request, the Finance Minister had suggested the Heritage Fund would be more likely the opportunity to respond to those types of needs, and I would say that that probably can be the solution, although it’s not necessarily the one I think would work best, but the Heritage Act in and of itself is a brilliant piece of work, whereas we are developing a trust fund for the people in perpetuity that is.

There are some things that I’d wished were included and I’m sure you’ll hear other Members in some ways or forms suggest that as well, that they wished things were slightly different than what’s being proposed today. But I would say that today marks a clear and positive occasion for this Assembly that we’re really doing something for future generations and I certainly believe that we will truly get the most out of resource revenues by banking them and putting them in this type of vehicle. I think over the long haul, well, certainly over the short-term, people won’t see any significant gains on this, but this is about the long haul and I’m certainly glad that it’s coming into existence. Thank you.