Hay River looking at $6 Million in debt with NTCL back taxes

One of NTCL's ships. Photo courtesy: NTCL.
- Advertisement -

The purchase of NTCL could leave Hay River in six million dollars of debt.

The shipping company left behind $1.3 million in back taxes when the territorial government bought them in December.

Hay River North MLA RJ Simpson made it clear that the GNWT is not offering financial assistance towards the taxes.

“The government of the northwest Territories said they bought the assets but not the debt. So they are not going to pay NTCL’s back property taxes. That’s their stance.”

Simpson says the back taxes will put Hay River at approximately $6.3 million in debt with an uncertain financial future.

“I have no idea. We’re already underfunded by $5 Million from MACA. That’s by MACA’s own admission”, says Simpson. “It’s a hard hit to take. Hopefully with the Minister (Wally Schumann) being from Hay River, we can come to some sort of agreement and get that money to Hay River.”

Assembly continues today 1:30pm.

- Advertisement -