Mr STONE - 1999-10-12
Ever proud of the economic legacy of successive CLP governments, I was interested to both hear and read in the media of the forecast by Access Economics that would indicate that the Territory ...
Members interjecting.
Mr STONE: Well, you can moan, but it is about jobs for Territorians. I would like to hear from the Treasurer whether he shares the predictions for a continuing 9% growth - although the member for Stuart may not be interested – that will continue to develop jobs for Territorians.
ANSWER
Mr Speaker, it is amazing that a bit of success gets the rabble on the move. It is something they do not like. They cannot handle success. They cannot handle job opportunities for Territorians and seeing the Territory progressing.
9.1% growth was predicted by Access Economics. Unusually for a Treasurer - I don’t think there would be too many around the country saying this - while we appreciate the confidence that Access Economics demonstrates in the Territory economy, Treasury and the government are somewhat more conservative in our growth projections. What it does demonstrate is the confidence of an independent analyst. I will use the words of Access Economics. Describing the NT as ‘the pocket dynamo of the Australian economy’, its report said: ‘It is hard to see any slowdown on the horizon’.
When you jest at that, you criticise not the efforts of the government but the levels of performance of business. The Leader of the Opposition cannot even pay attention to these important facts. You are not criticising the government. You are criticising the business community that is making the economy work. It is the engine room of the economy. It is the private sector that makes the economy work, with the assistance of the facilitation put in place by the government through good, sound policies that enable the economy to grow, for the private sector to create jobs and to provide employment opportunities for Territorians.
What grieves you so about that? What upsets you about providing opportunities for development in the Territory, for economic growth, for jobs?
But yes, the government has a more conservative approach. No economy can maintain such levels of growth. I do not think anyone would expect them to be maintained at the historically high levels that we have experienced over the last few years. We have seen some major developments starting to taper off. An example of that is the defence build-up in the north. The construction of facilities to accommodate it is starting to taper off. Naturally in some sectors of the economy, and the construction industry is one, you’ll see a slightly lower level of activity than we’ve experienced over the last few years.
Nonetheless, Territorians can be proud of our performance. To quote from the Access Economics document: ‘One has to look long and hard for a negative, with only a recent pause in international tourist arrivals standing out from the welter of good news’. That is an independent analyst’s view of the Northern Territory economy. They are advertising around this country, through the means that they use, the strength of the Territory economy and the fact that if you want to invest in Australia the Northern Territory is the place to do it. The Northern Territory’s is the lead economy. The Northern Territory is offering the best opportunities for business and the Northern Territory is offering the best employment opportunities for Australians. In addition, of course, that is accompanied by strong population growth.
So I urge the 7 dwarfs opposite to recognise the benefits, to see that the Territory is developing well. We have a bright future ahead. Be part of it, rather than being part of a problem.
Members interjecting.
Mr STONE: Well, you can moan, but it is about jobs for Territorians. I would like to hear from the Treasurer whether he shares the predictions for a continuing 9% growth - although the member for Stuart may not be interested – that will continue to develop jobs for Territorians.
ANSWER
Mr Speaker, it is amazing that a bit of success gets the rabble on the move. It is something they do not like. They cannot handle success. They cannot handle job opportunities for Territorians and seeing the Territory progressing.
9.1% growth was predicted by Access Economics. Unusually for a Treasurer - I don’t think there would be too many around the country saying this - while we appreciate the confidence that Access Economics demonstrates in the Territory economy, Treasury and the government are somewhat more conservative in our growth projections. What it does demonstrate is the confidence of an independent analyst. I will use the words of Access Economics. Describing the NT as ‘the pocket dynamo of the Australian economy’, its report said: ‘It is hard to see any slowdown on the horizon’.
When you jest at that, you criticise not the efforts of the government but the levels of performance of business. The Leader of the Opposition cannot even pay attention to these important facts. You are not criticising the government. You are criticising the business community that is making the economy work. It is the engine room of the economy. It is the private sector that makes the economy work, with the assistance of the facilitation put in place by the government through good, sound policies that enable the economy to grow, for the private sector to create jobs and to provide employment opportunities for Territorians.
What grieves you so about that? What upsets you about providing opportunities for development in the Territory, for economic growth, for jobs?
But yes, the government has a more conservative approach. No economy can maintain such levels of growth. I do not think anyone would expect them to be maintained at the historically high levels that we have experienced over the last few years. We have seen some major developments starting to taper off. An example of that is the defence build-up in the north. The construction of facilities to accommodate it is starting to taper off. Naturally in some sectors of the economy, and the construction industry is one, you’ll see a slightly lower level of activity than we’ve experienced over the last few years.
Nonetheless, Territorians can be proud of our performance. To quote from the Access Economics document: ‘One has to look long and hard for a negative, with only a recent pause in international tourist arrivals standing out from the welter of good news’. That is an independent analyst’s view of the Northern Territory economy. They are advertising around this country, through the means that they use, the strength of the Territory economy and the fact that if you want to invest in Australia the Northern Territory is the place to do it. The Northern Territory’s is the lead economy. The Northern Territory is offering the best opportunities for business and the Northern Territory is offering the best employment opportunities for Australians. In addition, of course, that is accompanied by strong population growth.
So I urge the 7 dwarfs opposite to recognise the benefits, to see that the Territory is developing well. We have a bright future ahead. Be part of it, rather than being part of a problem.
Last updated: 09 Aug 2016