Thank you, Mr. Chair. The Heritage Fund is an excellent way to keep a resource wealth here in the Northwest Territories for the use of future generations. One of the items of the transition report of the last Assembly was to do work on the Heritage Fund Act to do exactly what this amendment calls for: To create a defined revenue stream and stronger public governance of the fund. Right now, the revenue stream going into the fund is more or less defined by an agreement from the Minister of Finance, and it is the opinion of many that this needs to be looked at and defined by legislation so there is a reliable flow of cash into the Fund that can be used to generate stronger dividends for use by this government going forward. We are looking for revenue options and the Heritage Fund, if properly utilized, could be a way to create those dividends we need to expand our revenues and, again, keep our resource wealth in the Northwest Territories for the use of future generations. This amendment will allow this government to move forward on this and propose the kinds of amendments we need to make this source of additional revenue possible. Thank you, Mr. Chair.
Kieron Testart on Committee Motion 11-18(2): Tabled Document 1-18(2): Proposed Mandate Of The Government Of The Northwest Territories, 2016-2019, Addition Of Text Regarding Amendments To The Heritage Fund Act, Carried
In the Legislative Assembly on February 24th, 2016. See this statement in context.
Committee Motion 11-18(2): Tabled Document 1-18(2): Proposed Mandate Of The Government Of The Northwest Territories, 2016-2019, Addition Of Text Regarding Amendments To The Heritage Fund Act, Carried
Consideration in Committee of the Whole of Bills and Other Matters
February 23rd, 2016
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