Thank you, Mr. Chair.
I would speak against this. I understand how Mr. Bevington feels about this, but it's frankly unnecessary in order to put it into legislation. First of all, the territories approach the federal government for any change in classification, any change in borrowing limits, any change in relation to their financial position. They approach the Government of Canada and speak to it. Don't take my word for it. On May 24, 2012, the Minister of Finance for the Northwest Territories stated that
We worked collaboratively with Canada to secure an increase to our borrowing limit from $575 million to $800 million.
The Government of the Northwest Territories went on to state in a news release on March 15, 2012, and I quote again:
The increase represents the successful discussions between the federal Minister of Finance, the Honourable James Flaherty, and the three territorial Ministers of Finance about the definition and adequacy of the territorial borrowing limits.
It is very clear from the record and from what has been stated by all governments of the territories that there has to be consultation, and it would only make sense, because they actually approach the government based upon their own need in relation to the financing.
I would say as well to Mr. Bevington that the population base—and I know he's from a very large area, as I am in northern Alberta. Mine is much smaller than his, but we have a population of 43,000 in the Northwest Territories, 36,000 in Yukon, and 33,000 in Nunavut. The number of square kilometres that his constituents cover is huge, as is the case with my constituents in northern Alberta, but this arrangement is much the same as that of the municipal government in Alberta. For instance, in Fort McMurray, with all of our problems with infrastructure, etc., we had to approach the provincial government to ask for a change to our borrowing limit, which is the highest, I understand, of any municipality in Canada as far as percentage goes, because of the growth. But it's very common, and none of these discussions would take place without bilateral discussions between the different levels of government. It wouldn't make sense.