NWT borrowing limit among items discussed by premier, PM
Thursday, February 2, 2012 - 4:51 PM
Yellowknife, N.W.T. - Premier Bob McLeod got his chance to have a face-to-face meeting with Prime Minister Stephen Harper Wednesday in Ottawa.
The two leaders spoke about everything NWT-related, such as the process of devolution, easing the regulatory regime in the territory and the increasing of the territory's borrowing limit.
The NWT's borrowing limit currently sits at $575 million and it's almost at the limit now.
McLeod said he would like to see it jump up quite a bit.
"My estimation would be to, I guess, possibly even double what we have now. But the negotiations will continue over the next few months to reach a successful conclusion."
However, those negotiations seem to be moving ahead as McLeod said the Prime Minister personally stepped in to make sure the issue received full attention.
"I indicated that we were very pleased with the recent assurances that we had received from Minister Flaherty and that we expect our borrowing limit situation to be finalized and resolved by th end of this fiscal to is March 31."
Right now, the borrowing limit is set by the federal government under the NWT Act.
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