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

Thank you, Mr. McLeod. Item 20, consideration in Committee of the Whole of bills and other matters, with Mrs. Groenewegen in the chair.

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.

Thank you, Ms. Bisaro. Does committee agree?

We will resume after a short break.

----SHORT RECESS

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.

Yes, Madam Chair. Thank you.

Thank you, Minister Ramsay. Is committee agreed?

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.

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.

Thank you, Minister Ramsay. Industry, Tourism and Investment, general comments.

Detail. Okay, we will defer page 12-7 and move on to page 12-8, information item, infrastructure, investment summary. Any questions?

Agreed, Thank you. Page 12-9, information item, revenue summary, $124.394 million. Ms. Bisaro.

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?

Thank you, Ms. Bisaro. Minister Ramsay.

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.

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.

Thank you, Ms. Bisaro. Mr. Vician.