A recent Deloitte survey found almost a fifth of businesses in the Northern Territory expect growth over 30% within the next 12 months. Minister, I understand a new report from Deloitte has since been issued. Can the minister inform members of the contents of that report, and how it relates to the Northern Territory?

ANSWER

Madam Speaker, I thank the member for Drysdale for her question. I know she has a real interest in the economic growth occurring in the Northern Territory. Her electorate soaks up a lot of the new workers who arrive in the Northern Territory, and she likes to keep abreast of what is going on in relation to how the government is continuing to grow the economy. She is absolutely right, the Deloitte survey found almost a fifth of businesses in the Northern Territory expect growth of over 30% within the next 12 months.

It is great news, and it flies in the face of the comments we constantly receive from the opposition that the Northern Territory is going to hell in a hand basket. The Northern Territory economy continues to power on and there is a great synergy between this report and the policies of this government.

I have an excerpt of the report which I would like to table. It is titled The Top End to Remain a Chart Topper. Deloitte reports:

NT can continue its endless summer if it acts to catch coming growth waves.

Looking at what it talks about as coming growth waves, Deloitte says:

Rather than feeding an enormous demand for industrial resources, Australia’s future opportunities will gradually shift towards satisfying the demands of the middle class – good food, education, travel opportunities, clean energy and wealth management.

These are the same opportunities the Adam Giles Country Liberals government has identified for the Northern Territory. It is like it is straight out of the Country Liberals government’s economic growth handbook. It says:

The NT’s announced 3-Hub strategy focusing on mining and energy, tourism and education, and food exports shows that the economy is already preparing for the coming shift.

It is no surprise to us on this side of the parliament. They talk in there at length about LNG, the future opportunities for LNG and, moreover, global food demand is set to soar in coming decades. That points to particular potential for Northern Territory agribusiness and tourism.

For Australia as a whole, the future is looking bright as we position ourselves to prosper from Asia’s emerging middle class. For the NT, the rewards are already being felt as the Territory surfs the waves of opportunity.