My questions are for the Minister of Industry, Tourism and Investment.
The "Review of Royalty Regulations in the Development of Resources Legislation in the NWT" research paper states that "government and investors should share pre-tax cash flow over the life of a mine roughly on a 50:50 basis." There are a number of scattered references to post-devolution government revenues in this research paper but no clear, systematic, and detailed presentation of post-devolution government revenues from mining.
Please provide the average annual total of retained revenues from mining to the Government of the NWT from April 1, 2014 to March 31, 2022 including the following:
- An itemized listing of all the sources of revenues included in the annual average retained revenues (For example, mining royalties, corporate taxes, property taxes, payroll tax, fuel tax, and any other revenues);
- The average annual value of diamonds and any other minerals produced and exported from the NWT over this period of time;
- The average annual values of any mining revenues shared with Indigenous governments over this period of time; and
- An analysis of whether the net retained revenues from mining to the Government of the Northwest Territories meets the target of between 40 to 60 percent of pre-tax cash flow generated by a project as the government share, as recommended by the World Bank and the International Monetary Fund.
Mahsi, Mr. Speaker.