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

Michael Miltenberger

Michael Miltenberger Thebacha

That’s correct, Mr. Chairman.

Consideration in Committee of the Whole on Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters

Bob Bromley

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

Michael Miltenberger

Michael Miltenberger Thebacha

Yes, Mr. Chair. These mitigate the impacts of the rate shock.

Consideration in Committee of the Whole on Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters

Bob Bromley

Bob Bromley Weledeh

That’s all I have on this page. 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

The Chair Daryl Dolynny

Thank you, Mr. Bromley. Committee, we are on 5-13. Mr. Bouchard.

Consideration in Committee of the Whole on Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters

Robert Bouchard

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

The Chair

The Chair Daryl Dolynny

Thank you, Mr. Bouchard. Minister Miltenberger.

Consideration in Committee of the Whole on Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters

Michael Miltenberger

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

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

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

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

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

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

The Chair

The Chair Daryl Dolynny

Seeing none, 5-17. Ms. Bisaro.

Consideration in Committee of the Whole on Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters

Wendy Bisaro

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

The Chair

The Chair Daryl Dolynny

Thank you, Ms. Bisaro. Minister Miltenberger.

Consideration in Committee of the Whole on Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters

Michael Miltenberger

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

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

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

Wendy Bisaro

Wendy Bisaro Frame Lake

That’s good. Thanks to the Minister.

Consideration in Committee of the Whole on Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters

The Chair

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.