Thursday, June 15, 1995

LEGISLATIVE ASSEMBLY OF MANITOBA

Thursday, June 15, 1995

The House met at 1:30 p.m.

PRAYERS

ROUTINE PROCEEDINGS

PRESENTING REPORTS BY

STANDING AND SPECIAL COMMITTEES

Committee of Supply

Mr. Marcel Laurendeau (Chairperson of Committees): Madam Speaker, the Committee of Supply has considered certain resolutions, directs me to report progress and asks leave to sit again.

I move, seconded by the honourable member for St. Vital (Mrs. Render), that the report of the committee be received.

Motion agreed to.

MINISTERIAL STATEMENTS

Manitoba Builder Bonds

Hon. Eric Stefanson (Minister of Finance): Madam Speaker, I have a ministerial statement for the House.

Madam Speaker, on May 3 of this year, I announced that due to the continued success of Manitoba Builder Bonds and the desire of Manitobans to invest in their province, the third issue of Manitoba Builder Bonds would go on sale May 23.

It gives me great pleasure to rise in the House today to announce that over 23,000 Manitobans have purchased in excess of $370 million of Builder Bonds Series III.

A combination of HydroBonds and Builder Bonds has now raised in excess of $2 billion for the province and has generated in excess of $350 million in interest for Manitobans. Proceeds from the sale provides a local source of funds and goes to work right here in Manitoba for Manitobans.

I would like to extend our thanks to the people of Manitoba who have again shown pride and confidence in their province by investing in Manitoba Builder Bonds. Thank you.

Mr. Gary Doer (Leader of the Opposition): Madam Speaker, we were expecting a different statement from the government today, one which we could have been more critical about.

I would like to say that we support the concept of Manitobans investing in their own province. We think the Builder Bond concept is a good idea, and we are certainly pleased to see, again, 23,000 Manitobans investing in their province.

We do not have a record of the exact interest rates paid by the province, et cetera, but we will leave that for questions at a later time.

The government has mentioned $370 million of Builder Bonds staying here in the province of Manitoba. I think the government should turn its attention to how much money is leaving our country in terms of pension investments and how much money is leaving our province in terms of pension investments here in the province of Manitoba. The recent report indicated that over $5 billion in public-sector pension plans was available here in Manitoba, but our review of that pension plan money indicates 88 percent of that fund goes out of the province, out of the community, out of the economy of Manitoba, out of the job market.

So we applaud the $370-million announcement today of the Minister of Finance (Mr. Stefanson), but we would ask him to think more about keeping our money here in our province and look at the $5-billion amount of money that should be invested properly in our communities, in our future and in our children. Thank you very, very much.

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TABLING OF REPORTS

Hon. Darren Praznik (Minister of Northern Affairs): Madam Speaker, I wish to table the Supplementary Information for Legislative Review for the Department of Northern Affairs for the 1995-1996 Estimates.

Introduction of Guests

Madam Speaker: Prior to Oral Questions, I would like to draw the attention of all honourable members to the public gallery, where we have with us fifty Grade 5 students from Souris Elementary School under the direction of Mr. Glen Walmann and Mrs. Theresa O'Brien. This school is located in the constituency of the honourable member for Turtle Mountain (Mr. Tweed).

On behalf of all honourable members, I welcome you this afternoon.