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

I would like to take this opportunity to announce that once again Manitobans will have the opportunity to invest in their province when HydroBonds Series VI go on sale on May 26. HydroBonds Series VI will refinance Series IV, which mature in June. HydroBonds Series VI will offer three great ways to save. First, a floating rate bond for a five-year term in which the interest is adjustable and the bonds are redeemable semiannually; second, a three-year fixed rate bond; and third, a five-year discount compound bond which will be sold at a discount from face value and the purchaser will receive face value at maturity.

Manitobans understand that by funding the generation and supply of Manitoba's hydroelectric power they provide themselves with financial benefits and ensure a successful economic future for Manitoba's most important natural resource. HydroBonds, together with Builder Bonds, have a proven track record raising more than $2.4 billion for the province and have generated over $500 million in interest payments exclusively to Manitobans. Today they continue to benefit the province by allowing us to meet more of our refinancing needs right here in Manitoba.

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To ensure that all Manitobans have a chance to take advantage of this investment opportunity, the bonds will be issued in denominations as low as $100. I would also like to take this opportunity to thank Manitobans for the support they have shown through the past contributions and to encourage continued investment in the future of our province. Thank you, Madam Speaker.

Mr. Leonard Evans (Brandon East): Madam Speaker, I thank the Minister of Finance for this statement, again carrying on in the tradition of public financing of Hydro through the sale of various bonds. It is a good tradition that I am pleased this minister is carrying on. I am sure the people of Manitoba will be quite willing to purchase these bonds because they have faith in their publicly owned, publicly operated major electric utility.

It is unfortunate that the minister will not be in a position to get up and make a similar statement about MTS bonds, because people in Manitoba had faith and do have faith in MTS and wanted to carry on MTS as a publicly owned utility. The fact is, we are well served by this electric utility that is socially owned through the province of Manitoba, a utility that has a role to play in the future economic development of this province. It has played a very significant role in the past and can and will play a significant role in the future as a publicly owned, publicly operated utility. Thank you, Madam Speaker.