Mr BALCH - 1999-04-21
The Labor Party has a history of trying to talk down the Territory economy and create fear in the community. Today on radio, the Leader of the Opposition was at it again, this time using the government’s Planning for Growth as a vehicle to paint a picture of gloom and doom for the Territory. In the interests of all Territorians, can the Treasurer please give the House a brief snapshot of the Territory’s economic health?
ANSWER
Mr Speaker, I am delighted to tell members. I warn the media that the members opposite, the Labor Party, have misled them in recent times in relation to issues that they have raised and have since been reported on, to the embarrassment of some media outlets because they found that the Labor Party has been on the wrong track and there was no factual basis to the stories.
That get backs to the ‘old-fashioned way - by lying’. The Leader of the Opposition would be familiar with the report that, when she first came into politics, she wasn’t capable of acting in a truthful way. I table that for the benefit of honourable members and to remind her, because she forgets so frequently.
With regard to Planning for Growth, on the one hand we hear members opposite say that they consider that the Territory government has accrued too much debt and that we should be reducing that, but on the other hand what they want to do is keep spending money. ‘Why don’t you spend more money? You should be doing more and more and more’. Of course, that just adds to the cost of government. If you’re going to do additional things …
A member interjecting.
Mr REED: Listen and you might hear something. You haven’t learned much from what you’ve heard in the past because it doesn’t soak through the bone.
If you’re going to do something, you have to determine your priorities and stop doing some other things, to release money to increase activity in areas of greater need. That’s precisely what Planning for Growth was all about. It’s precisely what the private sector does. They determine their priorities. They trim their financial outgoings to meet their incomings so that they can balance their budgets. You’ll find, if you look at the Territory budgets in recent years, the financial management has been very good.
Planning for Growth was an essential part of that. Not to have had processes like Planning for Growth would see us just continue to add expenditure as the former Labor governments of South Australia, Western Australia and Victoria did, sending their jurisdictions broke.
Let’s have a look at the Northern Territory. If members opposite had read today’s NT News, they’d have seen: ‘Wet Fails to Dampen NT’s Building Boom’. Now, does that tell you that the place is full of doom and gloom? Or is it just the cupboard that the Leader of the Opposition lives in? I quote:
The Territory has continued to lead the country’s building boom, figures released yesterday show. The Australian Bureau of Statistics figures showed the amount of dollars spent on wet season building increased by almost 50% from 1997-98 to 1998-99. The amount of total building jumped from $108m in the 1997 December quarter to $155m for 1998.
That they have the incapacity to understand the strength of the economy and the level of activity that is occurring out there was clearly demonstrated by the ridiculous comments made by the Leader of the Opposition this morning, and some others she has made in relation to the economy. She doesn’t understand it.
Let’s look at some of the statistics - not mine but ABS figures – on the Territory economy. Population growth has been 1.7% since September 1997. People are coming here to live, so it can’t be too bad. It’s a pity the Leader of the Opposition doesn’t follow the Tasmanian trend and go somewhere else to live. In the labour market, employment increased 6.2% in the year to March 1999. The unemployment rate in March was 5.6%, the lowest of any jurisdiction and well below the 7.8% national figure. In increased gross state product, the NT recorded 5.1%, second only to Western Australia at 6.5%, and stronger than the national average of 4.6%.
Are these the signs of a failing economy? Are these the signs of lost opportunities for Territorians? Or are these signs that a Labor opposition can’t understand what is actually going on before them and grasp the strength of the economy?
In the year to February 1999, NT housing finance commitments for owner-occupation were up 9.7% on the previous year. Retail trade in the 12 months to February 1999 ...
A member interjecting.
Mr REED: I know you wouldn’t want to hear it because it’s positive stuff, and you have your doom and gloom socks on. That’s your problem. You don’t understand what’s happening. If anything good is happening, you want to ignore it and try to present the situation in a negative way.
Retail turnover in the Northern Territory was up 7.1% on the year earlier. That’s an indication of confidence in the economy, of people going out there buying things, and opportunities for Territorians.
I close on a very important note - the third-party endorsement of what’s happening in the Northern Territory by Access Economics. These comments were made only last week. I quote from an interview on the 8DDD Morning Program of 12 April with Graham Matthews, economic forecaster for the Northern Territory:
While we see a relatively bleak picture for the national economy, for the Northern Territory things are looking remarkably good.
I will draw another quote from that interview. If this doesn’t sink into the Leader of the Opposition’s and her colleagues’ heads, nothing will. They will never understand the value of the work that this government has done, together with the private sector, to generate a good and sound economy. Mr Matthews said:
The local economy in the Territory is doing remarkably well. If anyone’s interested in economic growth and low unemployment, the Territory’s the place to be at the moment.
That is an independent endorsement of the Territory economy, of the opportunities that lie ahead for Territorians. As far as Access Economics is concerned, what they are trumpeting to the rest of Australia is that if you want to be part of the action, move to the Northern Territory and, in brackets, don’t listen to the Labor Party when you get up there.
ANSWER
Mr Speaker, I am delighted to tell members. I warn the media that the members opposite, the Labor Party, have misled them in recent times in relation to issues that they have raised and have since been reported on, to the embarrassment of some media outlets because they found that the Labor Party has been on the wrong track and there was no factual basis to the stories.
That get backs to the ‘old-fashioned way - by lying’. The Leader of the Opposition would be familiar with the report that, when she first came into politics, she wasn’t capable of acting in a truthful way. I table that for the benefit of honourable members and to remind her, because she forgets so frequently.
With regard to Planning for Growth, on the one hand we hear members opposite say that they consider that the Territory government has accrued too much debt and that we should be reducing that, but on the other hand what they want to do is keep spending money. ‘Why don’t you spend more money? You should be doing more and more and more’. Of course, that just adds to the cost of government. If you’re going to do additional things …
A member interjecting.
Mr REED: Listen and you might hear something. You haven’t learned much from what you’ve heard in the past because it doesn’t soak through the bone.
If you’re going to do something, you have to determine your priorities and stop doing some other things, to release money to increase activity in areas of greater need. That’s precisely what Planning for Growth was all about. It’s precisely what the private sector does. They determine their priorities. They trim their financial outgoings to meet their incomings so that they can balance their budgets. You’ll find, if you look at the Territory budgets in recent years, the financial management has been very good.
Planning for Growth was an essential part of that. Not to have had processes like Planning for Growth would see us just continue to add expenditure as the former Labor governments of South Australia, Western Australia and Victoria did, sending their jurisdictions broke.
Let’s have a look at the Northern Territory. If members opposite had read today’s NT News, they’d have seen: ‘Wet Fails to Dampen NT’s Building Boom’. Now, does that tell you that the place is full of doom and gloom? Or is it just the cupboard that the Leader of the Opposition lives in? I quote:
The Territory has continued to lead the country’s building boom, figures released yesterday show. The Australian Bureau of Statistics figures showed the amount of dollars spent on wet season building increased by almost 50% from 1997-98 to 1998-99. The amount of total building jumped from $108m in the 1997 December quarter to $155m for 1998.
That they have the incapacity to understand the strength of the economy and the level of activity that is occurring out there was clearly demonstrated by the ridiculous comments made by the Leader of the Opposition this morning, and some others she has made in relation to the economy. She doesn’t understand it.
Let’s look at some of the statistics - not mine but ABS figures – on the Territory economy. Population growth has been 1.7% since September 1997. People are coming here to live, so it can’t be too bad. It’s a pity the Leader of the Opposition doesn’t follow the Tasmanian trend and go somewhere else to live. In the labour market, employment increased 6.2% in the year to March 1999. The unemployment rate in March was 5.6%, the lowest of any jurisdiction and well below the 7.8% national figure. In increased gross state product, the NT recorded 5.1%, second only to Western Australia at 6.5%, and stronger than the national average of 4.6%.
Are these the signs of a failing economy? Are these the signs of lost opportunities for Territorians? Or are these signs that a Labor opposition can’t understand what is actually going on before them and grasp the strength of the economy?
In the year to February 1999, NT housing finance commitments for owner-occupation were up 9.7% on the previous year. Retail trade in the 12 months to February 1999 ...
A member interjecting.
Mr REED: I know you wouldn’t want to hear it because it’s positive stuff, and you have your doom and gloom socks on. That’s your problem. You don’t understand what’s happening. If anything good is happening, you want to ignore it and try to present the situation in a negative way.
Retail turnover in the Northern Territory was up 7.1% on the year earlier. That’s an indication of confidence in the economy, of people going out there buying things, and opportunities for Territorians.
I close on a very important note - the third-party endorsement of what’s happening in the Northern Territory by Access Economics. These comments were made only last week. I quote from an interview on the 8DDD Morning Program of 12 April with Graham Matthews, economic forecaster for the Northern Territory:
While we see a relatively bleak picture for the national economy, for the Northern Territory things are looking remarkably good.
I will draw another quote from that interview. If this doesn’t sink into the Leader of the Opposition’s and her colleagues’ heads, nothing will. They will never understand the value of the work that this government has done, together with the private sector, to generate a good and sound economy. Mr Matthews said:
The local economy in the Territory is doing remarkably well. If anyone’s interested in economic growth and low unemployment, the Territory’s the place to be at the moment.
That is an independent endorsement of the Territory economy, of the opportunities that lie ahead for Territorians. As far as Access Economics is concerned, what they are trumpeting to the rest of Australia is that if you want to be part of the action, move to the Northern Territory and, in brackets, don’t listen to the Labor Party when you get up there.
Last updated: 09 Aug 2016