Member for Kam Lake.

Thank you very much, Mr. Speaker. Madam Chair, I move that this committee defer further consideration of Tabled Document 973-19(2), 2024-2025 Capital Estimates, at this time. Thank you, Madam Chair.

Thank you. The motion is in order. To the motion?

Question has been called. All those in favour? All those opposed? Abstentions? The motion is carried.

---Carried

Thank you, committee, and thank you, Minister. We're going to take a ten-minute break, and then we are going to come back because we have our supplementary appropriations. Yes, we're going to take a ten-minute break, and then we've got -- you guys all want to talk on it? Then we'll be here longer. Unless you want to do a team talk and have one team talker.

---SHORT RECESS

Calling Committee of the Whole back to order. Committee, we've agreed to consider Tabled Document 974-19(2), Supplementary Estimates (Operations Expenditures), No. 3, 2023-2024. Does the Minister of Finance have any opening remarks?

Thank you. Yes, I do, Madam Chair. I am here to present Supplementary Estimates (Operations Expenditures), No. 3, 2023-2024. These supplementary estimates propose a total increase of $120 million to the short-term borrowing authorization limit. The primary purpose of this increase is to address and respond to the unforeseen emergency costs as a result of wildfire activity this year.

That concludes my opening remarks. I am happy to answer questions, Madam Chair.

Thank you, Minister. Do you wish to bring witnesses into the Chamber?

Please.

Sergeant-at-arms, please escort the witness to the Chamber.

Would the Minister please introduce her witnesses.

Thank you, Madam Chair. So on my left, deputy minister of finance Bill MacKay and, on my right, Julie Mujcin is the comptroller general.

Welcome. Members, can we forego general comments?

Does the committee agree to proceed to the detail contained in the tabled document?

Committee, we will begin on page 2 with the Department of Finance.

Supplementary Estimates (Operations Expenditures), No. 3, 2023-2024, Department of Finance, revised borrowing authorization, $120 million. Does committee agree?

Thank you. Committee, do you agree that you have concluded consideration of Tabled Document 974-19(2)? Member for Kam Lake.

Thank you very much, Madam Chair. Madam Chair, so I'm wondering if the Minister can explain in greater detail why we have a need for -- like, this is different than our normal sups that we get. Normally when we get a sup, it's to pay for something. And this one here, it expands our -- increases our borrowing limit, and so I'm wondering if the Minister can speak to, in more detail for the public, what that is, why it's needed, and then I'll have more questions after that, please, as a start. Thank you.

Thank you, Member. Minister.

Thank you, Madam Chair. So, Madam Chair, when the main estimates are tabled, the focus of the attention generally is predominantly on the ability or the authority to spend the money that we have in that budget. But another item that's in there, and it certainly does get some attention although perhaps not quite as much, is the sheet that includes the authority to borrow. And it's that number now that we're looking to have amended by way of this supplementary appropriation.

So you have the authority to spend, which is the department by department budget lines that we all look at and that are -- as you typically see as a supplementary appropriation. If a department, for example ECC, needs additional money to support their wildfire fighting efforts, that goes in as their ability or authority to spend. However, in order for the government to actually spend money, they have to have the cash on hand. The timing on when we have cash on hand depends on a few things.

It depends, for example, on the timing of receiving taxation revenues and, in particular, the timing of receiving revenues from the federal government, which I think most folks are aware that is the dominant amount of our budget in revenues does come from one form or another of federal transfer. We don't necessarily get those as one lump sum. We get the territorial formula of financing as a lump sum, but the rest does come in over the course of the year at different times. And at present, because of the significant outlay of additional cash over the course of this summer, significantly because of the wildfires but certainly not exclusively, there's been -- the low water levels have also resulted in a higher expenditures, all of those things combined put us into a situation where we are concerned that, particularly with an election and the scheduling changes around when the Assembly's sitting, we were expecting that there's a reasonable possibility of running into a state where the government won't be able to pay with cash without increasing the short-term borrowing. So the short-term borrowing just gives that ability of flexibility to increase the amount of cash available to us if needed. And let me stop there so that the clock doesn't run down further. Thank you.

Thank you. Member for Kam Lake.

Yeah, thank you very much, Madam Chair. Madam Chair, and I know that this has been a very difficult Assembly and, as such, that's reflected, I suppose, in the requests for increases to the borrowing limit. And so in the life of this Assembly, this is our third now request for increases to the borrowing limit, and I'm wondering what is this government going to do in order for us to see, or for the next Assembly to see, more money in surpluses and to be able to kind of be a little bit more prepared for additional dollars in emergencies because we know that we're going to see more in the years to come. Thank you.

Thank you. Minister.