This is page numbers 3407 – 3442 of the Hansard for the 18th Assembly, 3rd 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 going.

Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters

Robert C. McLeod

Robert C. McLeod Inuvik Twin Lakes

Thank you, Mr. Chair. Mr. Chair, as of Valentine's Day 2018, the balance in the Heritage Fund was $17,110,798.32. Thank you, Mr. 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

The Chair R.J. Simpson

Thank you. Mr. O'Reilly.

Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters

Kevin O'Reilly

Kevin O'Reilly Frame Lake

Thanks, Mr. Chair. Great to get that Valentine's gift from the Minister of Finance. Is there not somewhere in the business plan or in the main estimates that that total can be shown? We have got “liquor revolving fund presentation” as an information item in the main estimates, but something as fundamental as the Heritage Fund, I have to ask on an annual basis what the balance is. I am sure I could go and check in the public accounts, but, by the time we get the public accounts, they are more than a year old.

Is there not some way that we can show what the balance in the fund is through a footnote or a presentation in the business plan somewhere? Thanks, Mr. 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

The Chair R.J. Simpson

Thank you. Minister.

Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters

Robert C. McLeod

Robert C. McLeod Inuvik Twin Lakes

Thank you, Mr. Chair. Mr. Chair, I take the Member's point, and I have had this question, I think, the last two budgets we have gone through. I will make the commitment that the balance of the Heritage Fund will show up in the business plans and the main estimates. Thank you, Mr. 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

The Chair R.J. Simpson

Thank you, Minister, for that commitment. Mr. O'Reilly.

Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters

Kevin O'Reilly

Kevin O'Reilly Frame Lake

Thanks, Mr. Chair. I appreciate that commitment. I am the guy who keeps raising it and bugging you about it, so, yes, if we can find a way to do that, that would be great. One of our mandate commitments is that we are going to look at the Heritage Fund Act legislation. Concerns have been raised around making sure that there is a legislatively defined revenue stream into the fund and that there is some greater role for the public in terms of governance. Where are we at with the legislation? Thanks, Mr. 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

The Chair R.J. Simpson

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

Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters

Stewart

Thanks, Mr. Chair. I think we are in a position to be able to come to standing committee now and talk about the options that might be available to us. I think the option that we will probably be recommending to the Minister is related to looking at the types of investments that are currently set out and then possibly getting some external help with the management side of that. When the Heritage Fund was set up, it was very conservative in terms of the types of things. You look at other funds, including some that are operated by the Legislative Assembly, that allow much more, I do not want to say “risky,” but certainly the potential for more growth. We think we can follow that model, and that extra revenue that we would generate would be more than enough to offset the cost of getting some external help on the management side.

We think that is probably the way to go in terms of improving the operation and making sure we are getting maximum value without taking too great a risk on the Heritage Fund. Thanks, Mr. 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

The Chair R.J. Simpson

Thank you. Mr. O'Reilly.

Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters

Kevin O'Reilly

Kevin O'Reilly Frame Lake

Thanks, Mr. Chair. Yes, I appreciate that. Is that conversation going to start with standing committee sometime in the next two or three months? Thanks, Mr. 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

The Chair R.J. Simpson

Thank you. Minister.

Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters

Robert C. McLeod

Robert C. McLeod Inuvik Twin Lakes

Yes, thank you, Mr. Chair. We will come before standing committee within the next two or three months. 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

The Chair R.J. Simpson

Thank you. Mr. O'Reilly.

Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters

Kevin O'Reilly

Kevin O'Reilly Frame Lake

Thanks, Mr. Chair. I appreciate that, and I look forward to the discussion. Is this the place where I can ask about the Northern Resident Tax Deduction, which I know is a federal income tax area, but is this where I can ask questions around indexing of that deduction? Thanks, Mr. 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

The Chair R.J. Simpson

Thank you, Mr. O'Reilly. Is this the appropriate section, Mr. Stewart? Mr. Stewart has nodded in approval, as has the Minister. Mr. O'Reilly, do you have a question about that?

Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters

Kevin O'Reilly

Kevin O'Reilly Frame Lake

Thanks, Mr. Chair. They know what I am going to ask. Every year I come back, and I ask the same things: what are we doing about indexing the Northern Resident Tax Deduction, and what are we doing about the continuing frustration of NWT residents about audits of our travel receipts and so on? CRA will not set what the lowest northern air fare is. People have to try to guess it on an annual basis, and then we get audited.

What are we doing about those issues? I keep coming back and asking. I know the Minister says he is working on it, but what we need is for the Minister to put pen to paper and write a letter to the Minister responsible for CRA and say, "Fix this," and tell her how to do it. What are we actually doing on these two matters? Thank you, Mr. 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

The Chair R.J. Simpson

Thank you, Mr. O'Reilly. Minister.

Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters

Robert C. McLeod

Robert C. McLeod Inuvik Twin Lakes

Yes, thank you, Mr. Chair. Mr. Chair, to the Member's point

-- and he has raised this a couple of times, and we have had correspondence from the Member on this particular issue -- I have had conversations with the federal Minister. I have raised it with him. We have had conversations with CRA and raised the issue with them. I have also, in the last meeting, had conversations with our counterparts in Nunavut and Yukon on some of the challenges that are common between all three jurisdictions. They have gotten our message, and we will continue to have those conversations. We will try to move it along a little more quickly, but continue to have those conversations.

I am going to turn it over to Mr. Stewart to touch on the second part of the Member's question if I may, Mr. Chair. 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

The Chair R.J. Simpson

Thank you, Minister. Mr. Stewart.

Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters

Stewart

Thanks, Mr. Chair. As the Member pointed out around the travel and the audits, we certainly have had several discussions with CRA about that. I am sure the Member is aware that they have proposed a solution, but it will take some time to implement that. We have followed up with them to see if there are things that we could expedite to move those changes or other options around some of the suggestions that have been made to maybe make that an easier process, but it is a federal program. We will continue to push, but, at the end of the day, the federal government will have to decide what they are going to do with that. Thank you, Mr. 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

The Chair R.J. Simpson

Thank you. Mr. O'Reilly.

Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters

Kevin O'Reilly

Kevin O'Reilly Frame Lake

Thanks, Mr. Chair. Yes, I did have some correspondence with the Minister about that on this very topic, particularly around the audits. Maybe I could just ask: what exactly is it that the federal government has to change to be able to set the value at a fixed amount or index a fixed amount for the air fares? What exactly do they have to fix? Is it a regulation? Is it a policy? Thanks, Mr. 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

The Chair R.J. Simpson

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

Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters

Stewart

Thanks, Mr. Chair. I believe those are set in regulation, but I would have to confirm that. That is my understanding is that it is a regulation and under the federal system, but we will confirm that, and we can get back to the Member on that.