Federal Government Has Yet to Honour Promise to Forgive Treaty Loans

Tuesday, September 4, 2018
Author: 
Shari Narine
Source: 
Windspeaker News

First Nations are asking the federal government to implement treaty loan forgiveness as promised in the February 2018 budget. A resolution made at the Assembly of First Nations’ general assembly in July called for the federal government to move forward with implementation of treaty loan forgiveness. First Nations acquired debt as part of the treaty-making process: First Nations were advanced 80 percent of the dollars by Canada, and the other 20 percent came from a two-thirds/one-third split between the federal government and the province, respectively. According to the BC Treaty Commission’s 2017 annual report, outstanding loans total about $537 million.

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