Thank you, Mr. Speaker. I'll try to be brief. Mr. Speaker, it maintains flexibility in how the revenues are used by the Government of the Northwest Territories, in short. So much as I had feared, the federal government, of course, once again changed their goalposts first back in April, which is what led to some lengthy discussions in this House in the last Assembly, and then again in the fall. And they changed those goalposts based on political priorities. They're set from Ottawa and by a different government.
By hanging on to the system by administering it ourselves here, we were able to do the tiered approach which means that rather than allowing the calculation of what amount should go to residents done elsewhere, it is done by our government and it's done to align and accord with the amounts of tax being paid by residents in different regions. It allowed us to use 10 percent of our net revenue and share that directly with communities, which is something unique to our system. And it's also allowed us to maintain a system that recognizes how our industrial system works, how our industrial part of the economy works; namely, the three operating diamond mines, which really are the revenue generating source here, yet they will be probably submitting less under the federal system but have a significant administrative burden and any incoming mines that we might have would not see the benefits of that system. So maintaining that control here, Mr. Speaker, has allowed us to ensure residents are seeing their carbon tax burden offset while also ensuring that we have an economy for tomorrow. Thank you.