2-02218

FIRST NATIONS FISCAL AND STATISTICAL MANAGEMENT ACT INTRODUCED IN THE HOUSE OF COMMONS

OTTAWA, ONTARIO (December 2, 2002) - The Honourable Robert D. Nault, Minister of Indian Affairs and Northern Development introduced the First Nations Fiscal and Statistical Management Act in the House of Commons today.

This First Nations led initiative will establish, through legislation, a suite of national institutions that will improve the ability of First Nations governments to address the social and economic well-being of their communities. The legislation is designed to allow First Nations to participate more fully in the Canadian economy and foster business-friendly environments while meeting local needs. It will provide participating First Nations with tools that other governments take for granted.

"We are missing what every other government has - our own public institutions," said Manny Jules, chairman of the Indian Taxation Advisory Board. "For the last 130 years, our institutions have been legislated away and this begins the process of legislating our way back in."

"This bill will allow First Nations to get on with the business of building their economies without waiting for the Government of Canada," said Minister Nault. "This legislation is the result of over ten years of dedication and expertise of First Nation leaders and individuals who know first hand the limitations of the Indian Act when it comes to building First Nation economies."

The institutions introduced in the Act are:

The First Nations Finance Authority (FNFA) would allow First Nations to collectively issue bonds and raise long-term private capital at preferred rates for roads, water, sewer and other infrastructure projects.

The First Nations Tax Commission (FNTC) would assume and streamline the real property tax bylaw approval process and help reconcile community and ratepayer interests.

The First Nations Financial Management Board (FMB) would establish financial standards and provide the independent and professional assessment services required for entry into the FNFA borrowing pool.

The First Nations Statistics (FNS) (also referred to in the proposed legislation as the First Nations Statistical Institute) will assist all First Nations in meeting their local data needs while encouraging participation in and use of the integrated national systems of Statistics Canada.

These institutions will provide First Nations with the access to capital markets available to other governments. They will further strengthen the First Nations real property tax system and provide greater representation for taxpayers. They will develop appropriate financial standards and increase financial management capacity. Finally, they will serve to fill the current gap in First Nations statistics.

This initiative has been developed through the National Table on Fiscal Relations, which includes representatives from the Assembly of First Nations (AFN), Health Canada, Finance Canada, Statistics Canada, the Canada Customs and Revenue Agency, and Indian and Northern Affairs Canada.

For more information, please contact:

Patricia Valladeo
Media Relations Officer
Indian and Northern Affairs Canada
(819) 997-8404

Agnes Papanastasiou
First Nations Fiscal Institutions
(613) 954-6201

Backgrounder - First Nations Fiscal And Statistical Institutions Initiative

First Nations Fiscal and Statistical Management Act

First Nations Fiscal Institutions Initiative

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