Floyd Roland

Thank you, Mr. Speaker. Mr. Speaker, we are unaware of what would have caused them to decide to file in the Northwest Territories, besides having a main part of their office and their infrastructure in the Northwest Territories. A company can’t remove all of its earnings and pay it in another jurisdiction. There is still a portion of that they would have to pay here depending on the size of the company, where their other office locations are and the size of their earnings in other jurisdictions as well. Those one-time earnings were good in one sense and bad in another, because that has...

Thank you, Mr. Speaker. Mr. Speaker, we have looked at a number of options and potential impacts, and that is one of the areas of potential lost revenue, is that large companies that have the ability to file in another jurisdiction would do so. At the same time, previously we did have a 14 percent corporate tax rate and felt that going back to the amount it was, hopefully wouldn’t drive out people to invest in other jurisdictions. That is one of the areas we did look at but, as the Member stated, we have to address the issue of our rebasing the tax effort. If we don’t do that then we will...

Thank you, Mr. Speaker. I move, seconded by the honourable Member for Weledeh, that Bill 1, Appropriation Act, 2004-2005, be read for the first time. Thank you, Mr. Speaker.

Thank you, Mr. Speaker. I give notice that on Friday, March 19, 2004, I will move that Bill 3, An Act to Amend the Income Tax Act, No. 2, be read for the first time. Thank you, Mr. Speaker.

Thank you, Mr. Speaker. Mr. Speaker, as the process is set up now we would do further internal work and then I would present my Cabinet colleagues with information to see if, in fact, that is the right course we’re heading on, and from their input either go back to the drawing board or make some changes. If once accepted by Cabinet it’s good enough to go to the next stage, then we would go to the Members of the Assembly through the committee process to have their input if we’ve got it right in the legislative proposal process. Then it kicks off, as the Member is aware, through that process...

Thank you, Mr. Speaker. Mr. Speaker, this is an area that we’re beginning to do some work on to look at what options of a fiscal responsibility legislation that we could bring forward for Members. That’s why it’s worded as it is. We need to work with the Members to see what would be acceptable. Things, for example, like what the actual interest bite is -- as the terminology that's used -- or repayment of a debt would be highlighted in the budget, what type of debt that we could actually incur. One of the concerns we have is with our structural deficit that we find ourselves in is not to get...

Thank you, Mr. Speaker. The Member is correct. We’ve told departments that there will be a 25 percent reduction for the upcoming year on discretionary travel. Non-discretionary travel such as medical travel, student financial assistance, those things, court appearances, court duty travel, have not been touched. So it’s been discretionary travel. Those are difficult to follow through the business plans. Members will have the opportunity when each department comes forward to get specific details from them and we’ll inform departments that they should be ready with that information. We could try...

Thank you, Mr. Speaker. Mr. Speaker, there have been past initiatives that were tried by previous governments to enhance building in market communities that were being impacted by increased resource development. We find after a while, though, that those initiatives get adjusted to by the market and get incorporated. I speak specifically of past governments who instituted a program of giving $10,000 additional to potential purchasers so that they could afford their new homes. We found that any subsidy that we have like that soon gets swallowed up by the system and just drives up the prices...

Thank you, Mr. Speaker. Mr. Speaker, it has been a while since I had this opportunity to recognize my family who is down visiting myself here in the city. My wife Shawna; my youngest son beside her, Mitchell; my daughter Courtney; my son Justin; my other son Quincey; and my next son, hockey player Samuel. Thank you.

---Applause

Thank you, Mr. Speaker. I give notice that on Thursday, March 18, 2004, I will move that Bill 1, Appropriation Act, 2004-2005, be read for the first time. Thank you, Mr. Speaker.