Mr. Chair, I would like to thank the member for Yukon for his good question. He referred to the Prime Minister's visit to Yellowknife on March 11 to announce that consensus had been reached on the terms for an agreement. This is indeed a historic accomplishment.
On the regulatory front, we will soon launch consultations on additional improvements, particularly in the Northwest Territories, where we want to ensure that an effective and efficient regulatory system for the benefit of all Northwest Territories residents is in place prior to the devolution of the responsibilities for the management of lands and resources to the Government of the Northwest Territories.
It is important that these regulatory regimes in the north work right to create the predictability and certainty needed to attract investment and create jobs in the north. This, of course, advances the objectives of the northern strategy and builds on our government's commitment to jobs, growth and long-term prosperity.