Yes. Thank you, Madam Chair. Lastly, we are projected to go over our debt ceiling. I recognize we're not anywhere near our five percent overall debt servicing finances of Fiscal Responsibility Policy, but I think that number is a little skewed in that we fund half of our infrastructure usually with debt, and then we switch to P3s. The full amount that we actually owe under P3s given the contractual obligations isn't really reflected as debt, and I think this is creating an incentive for us to use P3s. It seems every project over $50 million, we're going to use as a P3, which means we're going to have this debt on our books and these contractual obligations that don't actually show up here.

Is the Minister of Finance willing to revisit the financial Fiscal Responsibility Policy and given the work that's ongoing with P3 reviews and make sure that perhaps outside of this page, which is a page probably best represented for making sure we're in line with our borrowing limit, that all of that debt and that contractual obligation is factored in, in a fiscally responsible way? Are there changes to the Fiscal Responsibility Policy given our increase in use of P3s? Thank you, Madam Chair.

Thank you, Member. Minister of Finance.

Thank you, Madam Chair. The Fiscal Responsibility Policy right now is not certainly part of any of the active reviews that are under way. Certainly, the Department of Finance, in general, which is responsible for management of the borrowing plan of the Fiscal Responsibility Policy is part of what we will be getting under some review in the next coming months.

Madam Chair, I just would note that even on projects that are large projects, they would have the debt amortized over the course of time regardless. There are other public accounting techniques that would demonstrate when there's a large infrastructure project, or a large infrastructure asset that comes online. P3s are one way of paying for it. There are other projects that aren't done by P3s, but they still have to get shown over an extended period of time. P3s are not the only large project that show up over time.

I'm not sure if that's entirely answering the Member's question, but just to point out that there are different accounting standards, and different ways of demonstrating when there are, as I say, assets and items that come on line over the course of a period of time. Thank you, Madam Chair.

Thank you, Minister. Member for Thebacha.

Thank you, Madam Chair. I am going to go back to those P3s, especially the one with the Stanton Territorial Hospital. In the estimated balance, it has $130,431,000 and an estimated balance in 2022 of $127,129,000, so that could not be on the balance, Madam Chair? I am just wondering because it already goes down less than $3 million, and we know the project is almost $1 billion with the 35 years. We also know in that same P3 that we also have the legacy building next to it that we don't own anymore because we turned it over then to renovate, and that is part of the P3. When we go back to accountability and transparency, I would like complete clarity on how exactly these two projects, both the Stanton one and the Tlicho all-weather road, are accounted for.

Thank you, Member for Thebacha. Minister of Finance.

Thank you, Madam Chair. The amounts that are going down here are showing the amount of principal that is being paid down. As for the legacy building, I think that is reflected under health and social services. I do not have that information here, but if there are outstanding questions on that, I will certainly ensure that that is made available to the committee.

Thank you. Member Thebacha.

This is just on the principal, and they also have all the maintenance and all of the services that they are taking care of in that building. That is on a separate line, or is that somewhere on your -- that will be in Health and Social Services. Right? Because I was looking at trying to match this with what is in Health and Social Services, and it's very unclear.

Thank you, Member. Minister of Finance.

Thank you, Madam Chair. Yes, so this is showing only the debt that is owing and the principal on the debt that is owing. The operations budget for Stanton would come in under the Health and Social Services authority. I would expect, Madam Chair, that we likely could put a total project analysis together. Madam Chair, actually, Deputy Minister Kalgutkar was actually quite involved on the Stanton project. Perhaps, I would suggest, he could also give a bit more clarity to MLA Martselos.

Thank you, Minister of Finance. Deputy Minister Kalgutkar.

Thank you, deputy minister. Member for Thebacha.

I want to go down now to the NWT Hydro Corporation. There is $105,084,000. What does that include in that $105,084,000 of borrowing? What is that? What does it include?

Thank you, Member. Minister of Finance.

Thank you, Madam Chair. I do not have the detail here, but I anticipate Deputy Minister Kalgutkar might be able to provide a bit of background on that.

Thank you. Deputy minister.

Thank you, deputy minister. Member for Thebacha.

One of the items on there is the purchase of the franchise for Hay River so that it goes back into NTPC. Right? It comes under the auspices of NTPC. Is it precedent that we are paying for a $16-million purchase for a municipality? I mean, I am just wondering if we are starting to set a precedent here. You are doing this. Northlands Utilities is partly owned by all the Aboriginal groups of the Northwest Territories, and the only reason why they are doing this is because they say the cost of power is going to be less. We all know that is not going to happen. Then Hay River is buying it, and you guys are buying this. Then the other part of the factor is, and I know this for a fact because I used to sit on this board, that all the legal fees were paid by the Government of the Northwest Territories to fight these Aboriginal groups, all the Aboriginal groups in the Northwest Territories, in court, and all those legal fees were paid by the Government of the Northwest Territories. Am I right?

Thank you, Member. Minister of Finance.

Thank you, Madam Chair. I am not as versed in the operations of the Northwest Territories Power Corporation, obviously, not being the Minister responsible, but certainly, I wouldn't say that there is any particular precedent per se at this point. Although, again, I am hesitant to speak on behalf of the Minister responsible for NTPC. The legal costs, there certainly have been legal costs borne by the Northwest Territories Power Corporation at this point, so they are the ones who have paid their own legal fees. Thanks, Madam Chair.

Thank you, Minister. Member for Thebacha.