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 Builder Bonds Series IV go on sale on May 25. Builder Bonds Series IV will refinance Series I which matures in June and will be the 10th anniversary issue of the combination of HydroBonds and Builder Bonds.
Builder Bonds Series IV will offer three great ways to save: first, a floating rate bond for a five-year term; second, a three-year fixed rate bond; and third, a five-year discount compound bond. Manitobans have embraced the concept of Builder Bonds and HydroBonds as they understand the power of their investment dollars, and they know those dollars stay right here in Manitoba to build a stronger future for our province.
Builder Bonds, together with HydroBonds, have a proven track record, raising more than $2.7 billion for the province and have generated more than $550 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. 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.
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I would also like to take this opportunity to thank Manitobans for the support that they have shown through past contributions and to encourage continued investment in the future of our province. Thank you.
Mr. Gary Doer (Leader of the Opposition): Madam Speaker, I would like to thank the minister for his statement today on the Builder Bond program and again a way of having Manitobans finance assets that are owned by Manitobans, managed for Manitobans and administered by Manitobans.
It is worthy to note that the Manitoba Hydro corporation, owned by people in this province, now has the lowest hydro rates in North America. It has the second-lowest hydro rates in the world.
The only building that has ever gone on with Manitoba Hydro to give us these results has been conducted by the party that developed the resources here in Manitoba, unlike the party here that mothballed Limestone. We built Limestone and had it paid for by the Americans. The Premier (Mr. Filmon) opposite, when he was a member of the opposition, opposed Limestone because he had no vision for the future of this province and the future of hydro-electric power here in this province.
We prefer to support builders programs as we have in the past rather than the wreckage program we saw with the members opposite with the Manitoba Telephone System. You will note that when members talk about for the benefit--[interjection] The Premier has established VLTs; I know that is his vision of the future. Our vision was Limestone paid for by the Americans. One would note, when we talk about the benefit of all Manitobans, that it is surely important to know that now, with Manitoba Telephone System, which could have been financed--if there was a difficulty in financing the telephone system--with Builder Bonds than having the wreckage policies of members opposite. The telephone system now is owned 80 percent out of this province by people who are not residing in this province, for the benefit of people, and the only way to rebuild Manitoba is to have some of the tools of our economy held by Manitobans through instruments like the Builder Bonds, unlike the members opposite that gave away our telephone system and wrecked a useful utility for all Manitobans. Thank you very much, Madam Speaker.
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