Mr. Speaker, given the GNWT's strategic potential to the rest of Canada, our infrastructure deficit is truly shocking. We sit on top of some of the country's most valuable resources, but many can barely put food on the table, and our assets from roads to ports to community social infrastructure, do not reflect the needs of the 21st century economy or of the quality of life we aspire to.
In this House, one of the infrastructure deficits we speak of the most is housing. Housing needs bold leadership as it struggles between affording its legacy while figuring out how to pay for its future. Declining CMHC contributions make the government's need for real action imperative. By 2038, CMHC's contribution to the operations of public housing will be zero, and the value of today's GNWT contribution to the Housing Corporation will barely cover the operations and maintenance of NWT public housing, let alone fund new housing stock in the Northwest Territories.
Mr. Speaker, the world is in the cross-hairs of crisis - pandemic crisis, mental health crisis, and climate crisis. We need to transition to greater resilience in our economic systems, social institutions, modern wellness practices, and industrial technologies. The transition we face is a trillion dollar economic opportunity for northern and Indigenous businesses or a relapse to obsolete ways of solving problems. In short, Mr. Speaker, we are at a point of transformative opportunity.
The federal government is doing its first nation-wide infrastructure assessment called Building the Canada we Want in 2050. The national engagement sets out three main priorities: assessing Canada's infrastructure needs and establishing a long term vision, improving coordination among infrastructure owners and funders, and determining the best ways to fund and finance infrastructure.
Mr. Speaker, there isn't only a potential to, again, signal desperate need for housing infrastructure; it is an opportunity to transform the definition of nation building infrastructure to include forward-looking social infrastructure that the North needs. This includes public transit, high speed broadband, freedom from diesel dependancy using clean energy to power homes and businesses, waste management, child care, community, cultural, and recreational centres that build more inclusive and liveable communities, and housing that supports and empower a meaningful life.
This is an opportunity for stable, predictable, long-term infrastructure investments that train people in 21st century skills, create jobs, grow the economy, and build cleaner, more equitable inclusive communities.
Mr. Speaker, the deadline for this initial submission to this assessment is June30th. I will have questions for the Premier to ensure this government is ready to meet that deadline. Thank you, Mr. Speaker.