Thank you, Mr. Speaker. Mr. Speaker, the latest round of UNW negotiations sparked a lot of conversations about the cost of living, and not just among unionized employees, but also among those in the private sector, where step increases and annual increases aren't necessarily the norm.

Businesses across the North are struggling, and with increases in the minimum wage, ever-increasing WSCC premiums, and the upcoming carbon tax hitting small businesses harder than anyone else, it is increasingly difficult for companies to just keep people employed, let alone increase wages to keep up with the cost of living. I have heard these concerns from industries across the board.

Addressing the rising cost of living for unionized employees is easy. You just plug some numbers into a collective agreement. It is considerably more difficult to address in terms of the private sector, but there are some obvious things that this government can do.

We can do a better job of ensuring that the money that the government spends stays in the NWT. With a downturn in Alberta's economy, southern companies are looking for work, and because of their lower overhead, they are often able to underbid local companies. While saving $100,000 on a $10 million contract sounds great, that's $10 million not going into the pockets of Northerners.

We also need to get our WSCC premiums in check. On average, employers in the NWT pay double what they would in Alberta, and our private sector employers are paying rates that are two to six times higher than the GNWT's rates.

We need to do a better job utilizing the Business Development and Investment Corporation, so that it lives up to its mandate and provides support to new businesses as they are developing and assists existing businesses through these tough economic times.

All of these things can be done and would actually take relatively little effort. However, Mr. Speaker, there is something that could be done with virtually no effort and would have an immediate and noticeable effect for small businesses. We can reduce taxes on small businesses.

Most small businesses in the North qualify for the federal small business deduction, meaning that they pay a 4 percent corporate tax rate. I propose that we reduce that rate to zero percent. That would put about $2.5 million in the pockets of private sector employers and employees and help them cope with the ever-rising cost of living.

Mr. Speaker, reducing taxes is in the mandate of the GNWT, but there appears to be no effort to fulfill this commitment. Before the end of this Assembly, I will table a private Member's bill to reduce the tax rate for small businesses to zero percent. Thank you, Mr. Speaker.