Thank you, Madam Speaker. As I tried to lay out in the budget yesterday, we look at what our revenue is, what our projected revenue is and look at what our expenditures are. Within the budget, we’ve already committed to fund, in capital, over $200 million of capital projects. This O and M budget, because we are required under our Fiscal Responsibility Policy to put aside the required amount to offset that, we are supposed to put half our money in savings. We’ve done that. So all our expenditures and the borrowing we’ve done to fund all the projects, all our expenses, leave us at $142 million between us and the borrowing limit, the current $800 million.
So, clearly, we don’t have a lot of room to move. One of our priorities is to maintain a $100 million cushion which is absolutely critical to give us the flexibility to be responsive to unanticipated events, crises, expenditures.
So in order to keep on our target and on our path, we need to make sure that we hit these numbers. So if we want to increase the Heritage Fund, we’ve done our budgeting on 5 percent of those revenues being in the Heritage Fund, which won’t actually start to flow into our coffers until 2015-16, then we need to find offsets. We’re prepared to do that, but it’s not just a case of just spending more money because, in effect, we would be borrowing money at a higher interest rate to put into the Heritage Fund, which would generate a lower rate of interest than we have to pay to borrow the money. It doesn’t make sense at this point. We can afford 5 percent and do all the other things that we’re asked to do and we need to do as a government. Thank you.