Thank you, Mr. Chairman. With this Borrowing Authorization Act we are going to the federal government and we are going to increase our borrowing limit to $100 million. What I know is that from personal banking when you go to the bank and you have enough good credit, you have some concrete, what you call it, assets that the banker says you have good credit. It’s taken you awhile to live comfortably and that you have enough assets that you could borrow more money off us, why don’t you borrow $10,000. You have a good job. You have a good income. I want to ask the Minister what is the arrangement with the federal government if we’re going to borrow short-term cash on interest payments or fees? What is our risk here?
I know the bank has risk when you don’t pay back. I know sometimes when I lend out money I certainly don’t get it back. That’s the risk. We’re doing this on behalf of the government. I want to ask the Minister what the risks are.
He’s telling us this is what we need to do. Same as if I borrow money for the operational costs for my house. There’s growth. There are other things that come into play, but I have to know what I can afford. The government has $65 million; we just found $65 million to pay it back. I guess that’s what I’m thinking about.
I need some of these things to be answered on this bill here, because we’re borrowing on behalf of the people of the Northwest Territories. Cabinet is administrating the money on behalf of the people. We are the government of the people, so maybe you could help me out here and I’ll have something to think about over the weekend.