Mr. Speaker, of course, lands designations allow first nations to collect property tax, lease land to third-party businesses and develop their mineral and oil and gas resources.
Some of the most successful first nations in Canada, such as the Osoyoos Indian Band and the Tk’emlups Indian Band, could not have achieved their success without designating their lands. Oil and gas-producing first nations collectively generated more than $1 billion in royalties over the last five years.
The recent amendments to lands designation will make it easier for communities interested in pursuing these kinds of commercial and industrial economic development opportunities.