Mr. Speaker, no, that's not the only reason. The situation we faced over the last several years of climate impacts and fiscal challenges has put us in a situation where the significant sized operating surpluses that we've been managing to create for ourselves, rather than having those available to reinvest or to cushion us, are winding up being used for those purposes and so that means that we then take on more debt to fund operations and to fund our investment and capital. So looking, then, over the next few years and, frankly, seeing, you know, what is happening and what may be coming over the next few years, whether it's climate change or other geopolitical risks, puts us in a situation that to continue to ensure that we have a borrowing room available to us and what that borrowing is likely to be required us to go and seek a borrowing limit increase. Obviously, we were coming up right close to what that borrowing limit would be. The fiscal responsibility policy for us created an internal amount or an internal threshold where if we hit it, we would -- that would trigger our own internal obligation to go and ask. So between those two factors, Mr. Speaker, that's what led to the request. Thank you.
Caroline Wawzonek on Question 639-20(1): Northwest Territories Borrowing Limit and Fiscal Responsibility Policy
In the Legislative Assembly on March 12th, 2025. See this statement in context.
Question 639-20(1): Northwest Territories Borrowing Limit and Fiscal Responsibility Policy
Oral Questions
March 12th, 2025
See context to find out what was said next.