Thank you, Mr. Speaker.

Committee Findings and Recommendations

While committee supports a review of the mining fiscal regime, there was not consensus how to approach this review to stimulate investment, maximize benefits and maintain competitiveness. Not all Members accepted the recommendations as presented in the report. Regardless committee submits the following recommendations to the GNWT for a response as suggested by Resources for Development Consulting.

The report's findings suggest that in determining how to improve the NWT's mining fiscal regime, an analysis should be made publicly available that demonstrates how well the current fiscal regime has served the NWT since devolution.

Recommendations

Recommendation 1

The Standing Committee on Economic Development and Environment recommends that the Government of the Northwest Territories analyze the performance of the NWT mining fiscal regime since devolution and publish these results.

Committee agreed that fiscal transparency was a key aspect of any fiscal regime and should be included in the current fiscal regime review.

Recommendation 2

The Standing Committee on Economic Development and Environment recommends that the Government of the Northwest Territories implement government-led revenue transparency.

Committee was concerned about the GNWT's share of revenue from the mineral resources sector. Committee recommends the review of the Mining fiscal regime focus on maximizing government revenue while not impeding competitiveness in the industry.

Recommendation 3

The Standing Committee on Economic Development and Environment recommends that the Government of the Northwest Territories conduct a fiscal regime review focused on maximizing government revenue.

Committee recognizes revenue analysis for the GNWT from the mineral sector is complex in addition to accounting for the Territorial formula financing arrangement.

To ensure the GNWT and Indigenous governments are maximizing revenue, committee recommends the mining fiscal regime focus on assessing net revenue benefits to the NWT. This focus should include an analysis on the overall mining sector in the NWT, including revenue payments from all mining operations.

I'll now turn it over to the Member for Frame Lake.