Thanks, Mr. Chair. I appreciate that. Of course, I think we all wish it was a lot more. I know it's in our mandate to revise the heritage fund legislation. Can the Minister tell us where the update or the revisions to the legislation are actually at? Thanks, Mr. Chair.

Thank you, Mr. O'Reilly. Mr. Stewart.

Thank you, Mr. Stewart. Mr. O'Reilly.

Thanks, Mr. Chair. I appreciate the answer from the deputy minister. I don't need to lecture him on this, but there are lots of great models out there. The Norwegian pension fund is over $1 trillion now, and there are difficulties with the Alberta one; it's capped. In Alaska, they just give it away, which I don't think is an appropriate model. The governance issue is more than just having people watch over it. How the money is invested, I agree, we want to be fairly conservative because we do not want to lose the principle, but, at the same time, some funds have been placed in environmental social screens in terms of what they invest the money in and so on.

I think, by having some element of public governance, it will also elevate the profile of this fund and help us in terms of promotion of it and so on. My main concern is that right now we do not have a legislated revenue into it. It's by Cabinet policy, which is discretionary. I don't think there is any intention to change it, as far as I can detect, but that should be legislated, to take that option away or make it much more difficult, require public debate and discussion around that in the future.

In any event, I don't know if the deputy minister or the Minister has any further thinking on that, but I am happy to hear it. Then I have one other question, if I may, Mr. Chair. Thank you.

Thank you, Mr. O'Reilly. Minister.

Thank you, Mr. Chair. Mr. Chair, we hear the Member's concern in regard to the governance of the heritage fund, and it would be nice to have a trillion-dollar heritage fund like they do in Norway. We would have no shortage of governors then, to govern over it.

This is a new process. I think we have been at it for about four years, so we are just working our way through it. I am sure that, as we work our way through it, there are opportunities to improve it or have public governance of it. We just have to be sure that there is not a huge cost factor in doing something like that. We will look at the options, and we will see what we can come up with. Of course, we will have discussion. We can have a discussion with committee and get their feedback, too, as to how they would like to see this, going forward. Thank you, Mr. Chair.

Thank you, Minister. Mr. O'Reilly.

Thanks, Mr. Chair. I appreciate that. Certainly, I was advocating for a heritage fund before the diamond "gravy train" had even arrived. In any event, let's move on to the Mackenzie Valley fibre link. It looks like the project is going to be substantially completed in 2017-18. I just want to confirm that with the Minister? Also wondering when we can expect to see revenues from it and where they might show up? Sorry. It's a complicated question, but there you go. Thanks.

Thank you, Mr. O'Reilly. Minister.

Thank you, Mr. Chair. Mr. Chair, as I think the Members have read in the paper or in the news, the line is being lit up all the way up to Fort Good Hope. One of the comments I remember is they don't have to wait for Netflix now. It is just "boom," they got it automatically. The last update we had was the crossings. I think they were doing okay with the crossings. They just have one more that they had to do. Then they should be connected all the way up to Inuvik. On the revenue side, my understanding is we have started seeing some revenue already. We will confirm that if the Member is interested in the numbers. We will confirm that and share it with committee. Thank you, Mr. Chair.

Thank you, Minister. Mr. O'Reilly.

Thanks, Mr. Chair. I appreciate all of that. I am just curious, though: where would the revenue start to show up when they start to flow? Is it going to be in the Finance budget or the main estimates? Where are they going to show up? Thanks, Mr. Chair.

Thank you, Mr. O'Reilly. Minister.

Thank you, Mr. Chair. The revenue would show up in Finance under revenue summary. If you look on page 128, you are going to see the number $1,182,000. That is what we are anticipating for 2017-18.

Thank you, Minister. Nothing further from Mr. O'Reilly. Mr. Thompson.

Thank you, Mr. Chair. Hopefully just one question. The Minister probably already knows what I am going to ask. Other program costs, could he explain what that is under the Mackenzie Valley fibre link? Thank you, Mr. Chair.

Thank you, Mr. Thompson. Mr. Stewart.

Thank you, Mr. Stewart. Is there anything further from Mr. Thompson?

No, thank you, Mr. Chair.

Nothing further from Mr. Thompson. I see Mr. McNeely. Mr. McNeely.

Thank you, Mr. Chair. Just looking at the fibre optic link, if you total over the last few years, it comes out to roughly $30 million. The total project is $18 million and this year 2017-18, it doesn't really amount to that. Is the rest being identified as holdback until the completion of this project is done? Thank you.

Thank you, Mr. McNeely. Mr. Kalgutkar.