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Indigenous and Northern Affairs committee  From our standpoint, as I went through it, we would look at this. We have a statutory requirement for a limit and we would look at, as I suggested, a few issues when determining whether the limit is adequate or not. We've come to a limit now, which is $575 million temporarily and

March 24th, 2011Committee meeting

Chris Forbes

Indigenous and Northern Affairs committee  The federal government can borrow as markets see fit to lend it.

March 24th, 2011Committee meeting

Chris Forbes

March 24th, 2011Committee meeting

Chris Forbes

Indigenous and Northern Affairs committee  I'm just saying there's a statute in place, and we have a role to evaluate the limit under that statute.

March 24th, 2011Committee meeting

Chris Forbes

Indigenous and Northern Affairs committee  Sorry, just to be clear, I don't think I said anywhere that I was very concerned about the Government of the Northwest Territories' ability to manage. I just raised a couple of considerations. I'm not an expert in what their record is on projecting. I was raising a consideration

March 24th, 2011Committee meeting

Chris Forbes

Indigenous and Northern Affairs committee  No. As I said, this is the share of the Northwest Territories revenues. It's a rough estimate that comes from the federal government.

March 24th, 2011Committee meeting

Chris Forbes

Indigenous and Northern Affairs committee  As I said, no. As I said in my response to the previous question, if you're interested in that kind of figure, you can go to Statistics Canada's provincial and territorial economic accounts and they can provide you with an estimate of the total flows, to and from.

March 24th, 2011Committee meeting

Chris Forbes

Indigenous and Northern Affairs committee  The 76%, just to be clear, was an estimate of the current transfers provided from the Government of Canada, the larger ones, through the territorial formula financing, the Canada health transfer, the Canada social transfer--

March 24th, 2011Committee meeting

Chris Forbes

Indigenous and Northern Affairs committee  Yes, exactly. But this is--

March 24th, 2011Committee meeting

Chris Forbes

Indigenous and Northern Affairs committee  Statistics Canada has data, the balance sheet, if I may say so. I can provide you with a copy showing what the federal government pays to the territories and what it gets from-- I think it is less than $1 billion.

March 24th, 2011Committee meeting

Chris Forbes

Indigenous and Northern Affairs committee  Yes. As I already mentioned, the act prescribes borrowing limits.

March 24th, 2011Committee meeting

Chris Forbes

Indigenous and Northern Affairs committee  Perhaps I can better explain what I mean. This is about the revenue estimates of the GNWT. If, in a given year, they forecast a 5% decrease in revenues, according to the bill, this can reduce the borrowing limit for the next year.

March 24th, 2011Committee meeting

Chris Forbes

Indigenous and Northern Affairs committee  Do you want a dollar figure? I do not have this now.

March 24th, 2011Committee meeting

Chris Forbes

Indigenous and Northern Affairs committee  Personally, I do not have such estimates. There is presently some talk about devolution. My colleague may have more information about this.

March 24th, 2011Committee meeting

Chris Forbes

Indigenous and Northern Affairs committee  In answer to that, I would just say that the current review is about the application and the definitions of what's covered under the borrowing limit. But I think that in the past when the government was asked by the territories to look at the limits, either individually or collec

March 24th, 2011Committee meeting

Chris Forbes