What a great day to be a Nova Scotian and a proud Canadian.

Who said patience, perseverance and a few prayers wouldn’t pay off.

Minister MacKay
Minister Baker
Mr. Keddy
To my caucus colleagues, members of the House of Assembly
Elected officials
Ladies and gentlemen . . . .

Last fall, The Prime Minister and I agreed to two things.
The first being an arrangement to ensure that Nova Scotia retained the full benefits of the Atlantic Accord. Secondly, we agreed to the formation of a panel to resolve the long standing issue of the crown share.

The panel estimates that Nova Scotia will receive a total of about $870 million in Crown Share annual payments from the Sable and Panuke projects. These payments won't be clawed back under equalization, they are ours, they will go to the people of Nova Scotia.

They will help put Nova Scotia on a solid fiscal foundation and will add to the safe and stable legacy for our children.

Moreover, the panel recommends the Province will be eligible to receive Crown Share payments from all future offshore projects. We are pleased to accept their advice!

I'd like to thank the members of the panel, Dara Gordan, Brian Lee Crawley, and Chair, the Honourable Lorne Clarke, for their hard work over the past several months.

Fiscal responsibility is the cornerstone of our province and our government. Ninety-two per cent of Crown Share payments—or about 800 million dollars—will be applied to the provincial debt.

Over time, these payments will free up millions of dollars in debt servicing costs each year. Money which will be invested in the priorities of Nova Scotians.

But this agreement gives us an opportunity to do more. Through strategic investments we will maximize the benefit of the crown share.

We will ensure more research in the offshore, more land is protected for future generations, and we will invest in our university infrastructure which will help prepare our young people for the challenges and opportunities of the global economy.

None of this would be possible without the people who had the courage to seize the unfinished business of the Crown Share.

First and foremost, I want to thank Prime Minister Stephen Harper who agreed to the mechanism to work out our impasse, and with my government, has ensured that it reached a successful conclusion.

To Peter Mackay, Nova Scotians owe you and Gerald Keddy a debt of gratitude. Without your support, leadership, perseverance, and belief in Nova Scotia, we would not be here today.
On behalf of all Nova Scotians, I extend my most sincere thanks to both of you.

And we had a great team here in Nova Scotia. Our Finance Minister Michael Baker...Minister, stand and be recognized. Your devotion to the people of our province is not only inspiring, its unparalleled!

Our Energy Minister Richard Hurlburt. Minister, please stand up! As we move forward with new developments in our offshore, much like the new investment announced this week, our energy department is going to be a busy place over the coming years. Thank you for your commitment and work in ensuring today became a reality.

The Deputy Premier and Minister of Economic Development, Angus MacIsaac, couldn't be here today. He's working! Minister MacIsaac is out of the country, working to bring more investment to our province, and the jobs and security that go with it. He was part of this, every step of the way.

To the members of my caucus who stood with me. You never wavered in your support, and I thank you for that!

We elected officials are the people you see making the speeches and getting the credit. What you don't see is the work that goes on behind the scenes. We have a lot of dedicated government employees in this province who worked tirelessly to see this issue come to a conclusion.

People like Stephen McGrath in our Department of Justice and Chris Spencer in Energy. These two gentlemen are among those who put in countless hours over the last number of months on behalf of the people of our province.

I would like to thank people from my office, including Chief of Staff, Bob Chisholm, and Deputy Chief of Staff, Stephen Greene, as well as my deputy Bob Fowler, deputies Scott and Harnish, and other deputies.

My thanks also goes out to all the people involved from the departments of Energy, Finance, Justice, an others involved in this file.

I also want to express my gratitude to the thousands of Nova Scotians who offered their support. They extended their hands, and words of encouragement to me as I traveled the province.

Thank you to those who took the time to write, e-mail or call my office with words of support. People like Jim Gulliver, who e-mailed me to say:
"Your position has give me hope once again that our future can be brighter than our past."

Nova Scotia has a bright future. Today, there 870 million reasons why it's even brighter.

Thank you.