Thank you, Mr. Speaker. Having a sound and stable fiscal strategy empowers our government to address new challenges while maintaining and improving programs and services delivery in a manner that produces positive outcomes.
Mr. Speaker, the Government of the Northwest Territories does an excellent job in promoting our diverse cultures, traditions, and natural resources. Strengthening working relationships with our northern stakeholders and federal counterparts is fundamental to better prepare a fiscal position in capturing and enhancing the opportunities that presents itself.
At the beginning of our term, we were faced with many challenges of realigning our fiscal position through making reductions and implementing revenue initiatives in order to be in a position to make investments as an Assembly. Upon our alignment of reductions and the red alert announcement, there was increased attention to the Arctic and, in particular, the Northwest Territories.
Mr. Speaker, as we all know, the Minister of Finance announced he will not be seeking re-election. Under his watch, designing and implementing a fiscal-balanced approach during this Assembly leaves me confident it was the right thing to do. Fiscal deliberations continued, mandate expenditures such as establishing an Ombud's office, and labour concessions. This continued fiscal strategy forged on concerns Northerners shared facing challenges, decisions that our fiscal strategic plan have worked as we have been able to make significant investments in programs and infrastructure during this Assembly.
Mr. Speaker, in conclusion, part of the results of these actions have been the development of this coming year's proposed capital plan that will invest $410 million in a variety of capacity-building initiatives and projects. This plan, and all the investments we have made during this Assembly, is something we all should be proud of. Mahsi Mr. Speaker.