Mr. Speaker, kwe. Tansi. Hello. Bonjour.
Before I begin, I would like to acknowledge that Canada's Parliament is located on the unceded traditional territory of the Algonquin Anishinabe people.
I am pleased to have the opportunity today to speak to the First Nations Fiscal Management Act. I would like to recognize the Minister of Crown-Indigenous Relations for his work on this piece of legislation. I would also like to thank my colleagues on INAN, the indigenous and northern affairs committee, for their careful consideration and study of the bill.
The proposed amendments in Bill C-45 align with the April 2020 report of our committee entitled “Barriers to Economic Development in Indigenous Communities”. We worked collaboratively to achieve the recommendations in that report to champion the economic reconciliation and self-determination by unanimously supporting Bill C-45. Before I continue, I would like to acknowledge the members of that committee for the great work they did and the collaborative work we have done in making sure we passed it with urgency.
Most of all, I would like to recognize the chairs of the first nations-led institutions that put forward the proposed changes to the act and co-developed Bill C-45 with our government. I thank Harold Calla, executive chair of the First Nations Financial Management Board; Manny Jules, chief commissioner of the First Nations Tax Commission; Ernie Daniels, president of the First Nations Finance Authority; as well as Allan Claxton and Jason Calla of the First Nations Infrastructure Institute development board.
The First Nations Fiscal Management Act is an optional piece of legislation, with 348 signatories, and it is an alternative to the Indian Act regime. It is important to key in on the word “optional” because the stakeholders have told us that it is always important to give indigenous communities the choice. They deserve that choice when it comes to their affairs. It is consistent with what we have passed with the UNDRIP Act.
With this act, first nations can assert their jurisdiction in the areas of financial management, taxation and access to capital markets. Bill C-45 was co-developed with the first nations institutions under the act, and responds to what first nations have called for, to improve and expand the current services available under the act, and to establish the First Nations Infrastructure Institute.
Some of these proposed legislative amendments are as follows: modernize and expand the mandates of the tax commission and the financial management board respectively to better reflect the increasing needs for their services; allow the tax commission, the financial management board and the proposed infrastructure institute to collect and analyze data; and establish for the first time ever a First Nations Infrastructure Institute as a national indigenous-led organization that would support first nations scheduled to the act, as well as indigenous organizations and groups, to achieve better and more sustainable infrastructure outcomes. It would very much create a centre of excellence for indigenous infrastructure across Canada, whether dealing with wastewater or greening community buildings.
I would like to provide members with an example of the type of great work the First Nations Financial Management Board can support.
In my riding about 10 years ago, the Membertou first nation in Cape Breton received the board's first-ever financial systems certification, which provided the community with access to long-term, affordable capital to the first nations financial authority. I am not over-exaggerating when I say that this was a game changer for that community and the region of Cape Breton. It allowed the first nations to refinance, freeing up funds to reinvest in business developments. The results have been fantastic. They include an $8.2-million elementary school, a 90-lot housing development and a $9.5-million highway interchange that allows access to future commercial developments on land owned by the Membertou.
From this—