Thank you, Mr. Speaker. I would like to speak about the stagnant economic condition in the NWT and, more specifically, the regions outside Yellowknife.
In these uncertain economic times, we must understand that the majority of current business opportunities for the regions are tied directly to government projects. Keeping this in mind, it is important that we, as government, ensure that our northern businesses and residents have first opportunity to participate in any and all government-funded projects. It is important that these projects are not delayed, in order that we can put northern companies and northern people to work.
I understand that we have processes in place to make sure that this happens. However, it is within these very processes that we fall short when it comes to carrying out projects in a timely manner or doing everything that we can to support businesses and create northern employment.
Our Business Incentive Policy, although an excellent tool that provides support to northern businesses, does fall short for large projects and the monitoring of northern content while work is ongoing. Our hit-and-miss schedule of 20- and 30-day payments for contractors, when not followed, can cause a business to experience undue financial hardship and sometimes push them to the brink of failure.
Then, there is the dreaded red tape that we continue to pile onto our northern businesses, which drives up costs of doing business while reducing productivity, which ultimately takes away from timely delivery of projects. This often results in contractors being penalized through non-payment, holdbacks, or being told they cannot bid on future projects.
A further reality is that, with the Alberta economy suffering, we are experiencing an influx of southern contractors with which our northern businesses must compete. When our northern businesses lose a contract to a southern firm, it results in the bleeding of dollars outside of our communities, out of the regions, and out of the NWT. These may be the very 75-cent dollars that we fight to receive from the federal government for projects or services in the NWT, and we are throwing them away.
This government has a responsibility to support our northern businesses and provide our residents with job opportunities. It is time that we stand up for our businesses and our residents. Thank you, Mr. Speaker.