In March 2012, FNTC welcomed the release of the Minister of Aboriginal Affairs and Northern Development’s “A Report to Parliament on the Legislative Review of the First Nations Fiscal and Statistical Management Act”.
“Clearly, the legislation has made a difference, helping First Nations build their economies, improve investor relations, and achieve a measure of self-sufficiency — we look forward to working collaboratively with the Minister in carrying out any improvements stemming from the report,” said FNTC Chief Commissioner C.T. (Manny) Jules.
The tabling of the Report in the House and the Senate satisfied the Minister’s statutory requirement pursuant to s.146 of the FSMA.
Subsequently, in its 2012-2013 budget, the federal government announced the closure of the First Nations Statistical Institute (FNSI) by 2013-2014. This decision will result in amendments to the FSMA reflected in Bill C-38, the omnibus bill to implement the budget and other measures. In addition to ending FNSI, the FSMA will be renamed the First Nations Fiscal Management Act (FMA).