Thank you, Mr. Speaker. The NWT Business Development Corporation, an investment corporation known as BDIC, was established to support the economic objectives of the GNWT in a manner that benefits the people and the economy of the Northwest Territories by encouraging the creation and development of business enterprises, providing financial assistance, investing in businesses, and providing information to businesses. That's according to the legislation that establishes the corporation. Those are laudable goals. It's clear that this organization was intended to be a powerful tool to help invigorate and diversity our economy and support small businesses.

Well, Mr. Speaker, given that this Legislative Assembly and the GNWT have proclaimed that economic diversification is a priority, and given that we're in the midst of an economic downturn, now is the time that we would expect BDIC to shine. However, I've been hearing from a growing number of small businesses that, while the corporation is willing to lend money, that's where the support ends. There seems to be a lack of recognition by BDIC about the role they are supposed to play in our economy. Instead of supporting the economic objectives of the government and encouraging the creating and development of business, it seems that BDIC has devolved into just another traditional lender.

When companies that have accessed BDIC loans run into financial difficulties, which is becoming more common these days, we would expect BDIC to work with those companies to help weather the storm. Well, Mr. Speaker, I'm not talking about handing out free money here. I'm talking about BDIC using their statutory power to try to help keep businesses afloat. There are provisions in the act that allow them to do things like adjust the terms of a contract, defer payment to the principal, or adjust interest rates. Those provisions were put there for a reason. However, from what I hear, they are averse to using these options, and it almost seems like they would rather see companies put out of business than work with them.

Mr. Speaker, BDIC seems to have forgotten what the "D" in the name stands for. When the CEO appeared before standing committee, he touted the benefits of developmental lending, and I agree with him. He talked about how it can be used to help residents receive training, get people in the job market, and diversify the economy. However, when questioned on how BDIC practised developmental lending, he admitted that they didn't really do it.

Mr. Speaker, the last round of reviews of BDIC suggested that, based on the performance of the corporation, the government should consider dissolving it. You would think that that would spur BDIC to up its game and work to fulfill its mandate, but I haven't seen proof of that. It still has the potential to be a powerful tool, and I have questions for the Minister about what he is doing to realize that potential. Thank you, Mr. Speaker.