Mahsi, Mr. Speaker. Staying on the economic outlook for the Northwest Territories, Mr. Speaker, I would like to paint a picture of some of the actions taken by this government to place our territory in an unstable situation economically.

The GNWT only collects approximately $2 million a year in royalty or taxes from the diamond mines. The diamond mines extract approximately 14 million carats every year of diamonds, which could equate in the hundreds of millions of dollars, even billions, and all this is shipped out of the Northwest Territories, never to be seen again. In the Finance Minister's budget address, there was no mention of the diamond mines' financial contributions, through royalties or taxes, to our bottom line.

This government has also lowered the small business tax from 4 percent to 2 percent, further lessening the revenue stream to our bottom line. Even the much-touted Business Advisory Council lost faith in the GNWT, stating they were just not serious enough about the economic recovery plan for the Northwest Territories, so now we have no movement nor any clear direction as to economic recovery or our economic future. Even my dog left me. I don't know how much worse this can get.

---Laughter

Mr. Speaker, the Minister of Finance stated she is cautiously optimistic about the future of our economy and fiscal outlook. I, too, will remain cautiously optimistic in the hopes we can pull through this turmoil and show the residents of our territory that we are serious about our economic future and fiscal outlook. There are many ways to accomplish this feat or, at the very least, to try. There has to be a willingness to all work together in this House and butt heads for the betterment of our residents and for our economic future. Mahsi, Mr. Speaker.