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6 Tuesday April 28 2015 POLITICS FINANCE Spring on the land Thinking about heading out on the land to enjoy the spring weather or to go on a hunt In springtime there is an increased risk of becoming stranded or injured due to changing weather and ice conditions. Everyone should take precautions to ensure personal safety on the land. Bring an emergency kit check weather and ice conditions and always tell someone where youre going and when you will be back. Emergency preparedness is everyones responsibility. Be prepared. For more information on emergency preparedness visit www.maca.gov.nt.ca. No new projects yet on the books premier says Regular planning process to decide use of new available funds Continued from page 1. According to the territorys own Fiscal Responsibility Policy at least 50 per cent of money invested into capital infrastructure must come from the governments operat- ing surplus. The 2015 territorial budget pro- jected an operating surplus of 147 million but revenue growth is expected to slow to a standstill over the next ve years while ex- penses continue to rise. The GNWT will need to develop a scal strategy that aligns government expenditures to actual revenues Finance deputy minis- ter Mike Aumond told The Journal. This is the path the current government has taken and future governments will need to con- tinue to take. The GNWT has also tried to keep a 100-million cushion between its debt and the borrowing limit - something it had to cut into last year due to the costs of climate change on re management and hydro power. That cushion is likely going to have to grow along with the new borrowing limit Milten- berger said but just how large it will become has yet to be determined. Money not yet earmarked McLeod said the new available funds will certainly not be spent on day-to-day opera- tions nor will they be accessed in the near future. The government of the Northwest Terri- tories does not have this money earmarked for any new projects already but it will im- prove our ability to plan going forward he said. Both McLeod and Miltenberger said infrastructure that lowers the cost of energy and assists in resource development projects are considered priorities. Among the possibilities is an all-weather road to MacKay Lake 250 km northeast of Yellowknife where diamond mining com- panies currently invest 22 million a year to build an ice road along with renewable energy technologies that will help bring down diesel usage in thermal communities and Yellowknife. Decisions on new investments will be made through normal planning processes with MLAs and other stakeholders. This is the second time the 17th Assembly has managed to raise the federal borrow- ing limit for the GNWT. The limit was rst raised from 575 million to 800 million in March 2012. McLeod credits the territorys prudent scal management for the successful ne- gotiations with Canada which began in late 2013 with former federal Finance Minister Jim Flaherty. The Nunavut government also received word of a raised borrowing limit in the budget from 400 million to a new cap of 650 million. Both increases will be final- ized upon Governor in Council approval in Ottawa. PhotocourtesyofPrimeMinistersOfce 2015 Federal Budget Highlights The North 34millionoverveyearsstartingin201516tocontinuesupportingmeteorological and navigational warning services in the Arctic. 30.8 million over ve years starting in 201516 for measures to enhance the safety of marine transportation in the Arctic and further strengthen marine incident prevention preparedness and response in waters south of the 60th parallel. 5.7 million over ve years to help secure new market access for Canadian seal products including establishing a system to certify seal products resulting from traditional hunts from Aboriginal communities. Natural Resources Extending the Mineral Exploration Tax Credit until March 31 2016. 80 million over ve years starting in 201516 to the National Energy Board for safety and environmental protection and greater engagement with Canadians. This funding will be fully cost-recovered from industry. 22 million over ve years starting in 201516 to Natural Resources Canada to renew the Targeted Geoscience Initiative. 23 million over ve years starting in 201516 from Natural Resources Canada to stimulate the technological innovation needed to separate and develop rare earth elements and chromite. 86 million over two years starting in 201617 to extend the Forest Innovation Program and the Expanding Market Opportunities Program Aboriginal Canadians 200 million over ve years starting in 201516 to improve First Nations education. 12 million over three years to Indspire to provide post-secondary scholarships and bursaries for First Nations and Inuit students. 2 million per year ongoing for mental wellness teams in First Nations communities. 248.5 million over ve years in Aboriginal labour market programming. 33.2millionoverfouryearsstartingin201617tosupporttheSurveysonAboriginal People. The Surveys on Aboriginal People collect socio-economic and demographic information on the Aboriginal population both on and off reserve. NWT Premier Bob McLeod left credits successful meetings with Prime Minister Stephen Harper for the increased borrowing room.