That’s correct, Mr. Chairman.
Debates of March 7th, 2013
This is page numbers 2429 – 2482 of the Hansard for the 17th Assembly, 4th Session. The original version can be accessed on the Legislative Assembly's website or by contacting the Legislative Assembly Library. The word of the day was going.
Topics
Consideration in Committee of the Whole on Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole on Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters

Bob Bromley Weledeh
Mr. Chair, I just want to confirm that these do not reduce the power. They don’t reduce the underlying power and underlying causes of high power cost. They simply subsidize the rates and cushion the shock as rates go up. Is that correct? Thank you.
Consideration in Committee of the Whole on Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole on Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole on Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole on Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters

Robert Bouchard Hay River North
Thank you, Mr. Chair. My question is about the NWT Heritage Fund. We have guidelines in place on that contribution and what those funds will be used for in the future. Is there a buffer time zone that we don’t withdraw that money within the first 10 years of the fund or is there any kind of guidelines?
Consideration in Committee of the Whole on Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole on Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters

Michael Miltenberger Thebacha
Thank you, Mr. Chairman. At this point we are contributing $250,000 a year and there is a 20-year period where we can’t touch the principal.
Consideration in Committee of the Whole on Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters

Robert Bouchard Hay River North
Mr. Chair, is there any expectation over the next few years to start to contribute more to this fund?
Consideration in Committee of the Whole on Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters

Michael Miltenberger Thebacha
Mr. Chair, that has been flagged as we get into devolution and move into implementation and resource revenues start to flow, we have to have the discussion about the money. We are in the position that it should go mainly into infrastructure, paying down the debt and discussion about the Heritage Fund as well. Thank you.
Consideration in Committee of the Whole on Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters

The Chair Daryl Dolynny
Committee, we are on 5-13, Finance, activity summary, deputy minister’s office, operations expenditure summary, $79.725 million. Does committee agree?
Consideration in Committee of the Whole on Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
Some Hon. Members
Agreed.
Consideration in Committee of the Whole on Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters

The Chair Daryl Dolynny
Thank you. Page 5-14, Finance, activity summary, deputy minister’s office, grants and contributions, contributions, $77.142 million. Does committee agree?
Consideration in Committee of the Whole on Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
Some Hon. Members
Agreed.
Consideration in Committee of the Whole on Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters

The Chair Daryl Dolynny
Thank you. Page 5-15, Finance, information item, deputy minister’s office, active positions. Any questions?
Consideration in Committee of the Whole on Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
Some Hon. Members
Agreed.
Consideration in Committee of the Whole on Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole on Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters

Wendy Bisaro Frame Lake
Thanks, Mr. Chair. I have a question that I think belongs here. The Minister, in his opening remarks at the very end, talked about developing a strategy that recognizes the volatility of our revenue and plans to ensure stable revenues. Is this referencing the Revenue Stabilization Fund which has been talked about for a while? I haven’t heard anything about it for a while. Thank you.
Consideration in Committee of the Whole on Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole on Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters

Michael Miltenberger Thebacha
Thank you, Mr. Chair. The Member is correct; there is still work being done on the framework and looking at how we would structure and fund such a fund. Thank you.
Consideration in Committee of the Whole on Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters

Wendy Bisaro Frame Lake
Thanks to the Minister. What kind of a time frame are we looking at? Is it going to be within the 2013-14 budget year or are we looking at 2014-15? Thank you.
Consideration in Committee of the Whole on Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters

Michael Miltenberger Thebacha
Mr. Chair, the framework will be done this current fiscal year and we would look to advance it fully into the next ‘14-15 budget cycle.
Consideration in Committee of the Whole on Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole on Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters

The Chair Daryl Dolynny
Committee, we are on 5-17, Finance, activity summary, fiscal policy, operations expenditure summary, $24.945 million. Does committee agree?
Consideration in Committee of the Whole on Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
Some Hon. Members
Agreed.