Mr. Speaker, I've spoken several times about the importance of what the Taltson Hydro Expansion represents for the future of the NWT. I speak passionately and frequently about this issue for a number of reasons. Primarily, it is a great opportunity for the NWT economy and all people of the NWT. This project is of great importance because it will bring the NWT into a prime state of development for the future growth of the diamond industry, mineral industry, non-renewable and renewable industry, and is a green energy project at the highest level.

Mr. Speaker, in the eyes of some, this project is either considered too big or not good enough to address our territory's needs. Well, that all depends on which needs we're addressing first. For me, my focus is the economy and helping people to better themselves and not just to survive, but to thrive. Right now businesses are hurting which means that people are hurting. I want to see people with stable jobs, a steady income, and that people are fed and housed appropriately. However, in order to achieve those things, we need to have a strong economic base with a variety of jobs available for people to work.

Mr. Speaker, I know the Taltson Expansion has the potential to spur further economic growth for the people of the NWT. I'm confident that this project can and will create spinoff industries within the NWT. Let's also address the elephant in the room. This project is crucial if the NWT has any intention to advance any future mining exploration projects. We all know the cost of living is going up every year for everything we buy but so is the cost of doing business in the NWT.

Mr. Speaker, we need to start creating the right conditions to attract and retain business and investments in the NWT once again. Our economy is on life support right now and is in dire need of a kick start. For example, in January, Statistics Canada published a report on economic activity in Canada for 2020, which found out that NWT experienced a decline of economic activity by 12 percent in 2020. Moreover, another recent Stats Canada report from last month states that the NWT experienced the highest decline in gross domestic product of any jurisdiction in Canada for 2020. In total, GDP fell by 10.4 percent in the NWT for 2020, amounting to the most severe economic decline for the NWT in 40 years.

Mr. Speaker, I seek unanimous consent to conclude my statement.

---Unanimous consent granted

Mr. Speaker, in conclusion, as our territory and country moves toward an economic recovery in the post-pandemic world, our government needs to seize this moment and secure permanent funding for the Taltson Hydro Expansion Project. The federal government has been investing hundreds of millions of dollars in programs, services, and in key economic sectors hardest hit by the pandemic. This is a ripe time to work with the levels of government to finally get this project off the ground with permanent funding.

In times of economic decline, we must think big and long term, and the Taltson Hydro Expansion must be included with that discussion. I will have questions for the Minister of Infrastructure later today. Thank you, Mr. Speaker.

---Applause