Thank you, MP Idlout.
It's important to take a step back when we talk about this suite of legislation. It is only part of the conversation, for sure. Even the discussions on monetization are ones where certain communities would benefit from it and, clearly, others might not.
The way the government has dealt with infrastructure gaps in the past has been insufficient. When it has, it was typically through a grant model. When you're talking about the vast sums of money that are needed to close that infrastructure gap, the reasoning you have heard from a number of officials is that the grant model is not sufficient. I don't know that to be the case. When you look at the suite of tools that exist for indigenous communities to access capital, we certainly have to have an equal amount, if not more than what non-indigenous communities have, particularly given the Government of Canada's direct obligation to close those socio-economic gaps, and our existing fiduciary duties.
We have seen in the last couple of budgetary cycles vast amounts of infrastructure monies. In the case of your constituency, and the people you serve, MP Idlout, that work will transform some communities, but there is so much more to do, whether it's redoing the infrastructure in Iqaluit for the water, or whether it's getting the housing built. I spoke to the premier about that yesterday. These are all things that, if we relied solely on the institutions supported by this legislation, would never happen. You need direct support from the Government of Canada in making sure that actually gets done.
How does that get done? It gets done through consistent investments from the Government of Canada and making sure we are closing those gaps in the way the Inuit Nunangat policy tells us to behave, which is in co-development and in the spirit of self-determination. That requires constant co-operation with, in your case, NTI and the Government of Nunavut. We have good relationships with them, but we know the money is still needed out there. It will have to come through grant models. Leveraging the Infrastructure Bank is one aspect. Opening up some flexibility in terms of the availability of capital is another one. We have taken some small steps in that regard.
Given the seriousness and the importance of that gap, we have to have all options on the table. This will play its part, I think, and a very important part, but it is very much only one part of the conversation.