Question has been called. Bill 11, Petroleum Resources Act, has had second reading.
---Carried
Mr. Premier.
This is page numbers 3905 – 3976 of the Hansard for the 17th Assembly, 5th 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 year.
Bill 11: Petroleum Resources Act
Second Reading of Bills
The Speaker Jackie Jacobson
Question has been called. Bill 11, Petroleum Resources Act, has had second reading.
---Carried
Mr. Premier.
Bill 11: Petroleum Resources Act
Second Reading of Bills
Bob McLeod Yellowknife South
Mr. Speaker, I seek unanimous consent to waive Rule 69(2) and have Bill 11, Petroleum Resources Act, moved into Committee of the Whole. Thank you, Mr. Speaker.
---Unanimous consent granted
Bill 11: Petroleum Resources Act
Second Reading of Bills
The Speaker Jackie Jacobson
Thank you, Mr. McLeod. Item 20, consideration in Committee of the Whole of bills and other matters, with Mrs. Groenewegen in the chair.
Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
The Chair Jane Groenewegen
I’d like to call Committee of the Whole to order. We have three items on the agenda today. What is the wish of committee today? Ms. Bisaro.
Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
Wendy Bisaro Frame Lake
Thank you, Madam Chair. Committee wishes to continue with Tabled Document 22-17(5), with the Department of Industry, Tourism and Investment and, time permitting and the Members willing, the Department of Finance. Thank you.
Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole of 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 of Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
The Chair Jane Groenewegen
We’ll carry on with the Department of Industry, Tourism and Investment. I’d like to ask Minister Ramsay if he would like to bring witnesses into the Chamber.
Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole of 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 of Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
The Chair Jane Groenewegen
Agreed, thank you. I’ll ask the Sergeant-at-Arms to please escort the witnesses to the table.
Minister Ramsay, for the record could you please introduce your witnesses.
Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
David Ramsay Kam Lake
Thank you, Madam Chair. To my left I’ve got Mr. Peter Vician, deputy minister of Industry, Tourism and Investment. To my right, Ms. Nancy Magrum, director, shared services, finance and administration. Thank you.
Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
The Chair Jane Groenewegen
Thank you, Minister Ramsay. Industry, Tourism and Investment, general comments.
Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
Some Hon. Members
Detail.
Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
The Chair Jane Groenewegen
Detail. Okay, we will defer page 12-7 and move on to page 12-8, information item, infrastructure, investment summary. Any questions?
Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
February 24th, 2014
Some Hon. Members
Agreed.
Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
The Chair Jane Groenewegen
Agreed, Thank you. Page 12-9, information item, revenue summary, $124.394 million. Ms. Bisaro.
Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
Wendy Bisaro Frame Lake
Thank you, Madam Chair. My first question on this page has to do with the capital transfers. We’ve got a huge increase from
$265,000 to $2.7 million. So what accounts for this grand increase in capital transfers?
Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
David Ramsay Kam Lake
Thank you, Madam Chair. That’s a gifted asset from AANDC. It’s the C.S. Lord Building with the geosciences. That’s what that accounts for. Thank you.
Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
Wendy Bisaro Frame Lake
Thanks to the Minister for that. My other question has to do with, I have two other questions here, but my first of the other questions has to do with the regulatory revenues and the minerals oil and gas royalties.
The $120 million, as I understand it, is the estimated amount of resources revenues that we’re going to be getting in the ’14-15 budget year, but that’s the total amount, that’s not the net amount. So I’d like to know why we are recording the total amount in this budget. I don’t believe there’s a corresponding expense of the 50 percent of this net fiscal benefit that we’re going to be losing to the federal government, so why do we record this whole amount as revenue when there’s no offsetting negative amount? Thank you.
Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
Peter Vician
Thank you, Madam Chair. Good afternoon, Madam Chair and committee. The $120 million that’s forecasted as revenue is the revenue responsible for collection by the Department of ITI from anticipated neural and petroleum resource activities in the Northwest Territories. The responsibility then, under that fiscal benefit arrangement with the Devolution Agreement, is dealt with through the Department of Finance as part of the reconciliation of the amounts that are kept and those that are adjustments to the gross expenditure base of the GNWT. Thank you.
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