Thank you, Madam Chair. We are not that prescient that we can foretell what the exchange rate will be by next year, which is why we’re going to set up this facility to help us try to hedge and hopefully pick appropriately as we’re hedging what exactly it is we’re going to hedge and how much. So I appreciate the Member’s concern. We can tell you what we’ve spent to date with the actual cost of what we came forward with, the money we saved by advancing the project last year to the money that it cost us with the exchange rate drop. All combined, that money has been paid. We can tell you to the penny now what that has cost us. The next installment we are going to be taking all the steps we’ve talked about here to make sure that we hedge against another type of loss related to exchange rates. Thank you.
Michael Miltenberger on Committee Motion 140-17(5): Concurrence Of Td 281-17(5): Northwest Territories Capital Estimates 2016-2017, Carried
In the Legislative Assembly on October 2nd, 2015. See this statement in context.
Committee Motion 140-17(5): Concurrence Of Td 281-17(5): Northwest Territories Capital Estimates 2016-2017, Carried
Consideration in Committee of the Whole of Bills and Other Matters
October 1st, 2015
See context to find out what was said next.