Mr HIGGINS - 2013-10-09
Could you please outline for the Assembly what recent evidence has emerged on the strength of the NT economy? Can you also outline how this contrasts with the economic shambles left by Labor?
ANSWER
Madam Speaker, I thank the member for Daly, who has inherited a fantastic electorate but one which has been held back by lack of economic growth transport infrastructure to be able to connect people. Connecting people is about driving economic growth, delivering on jobs, and getting sustainable life opportunities and hope for people. That is what the member for Daly is interested in. He knows we are encumbered by the $5.5bn worth of Labor debt.
Picture the buck’s party when someone is walking along carrying a ball and chain. For us, as government, we have this humongous ball on this humongous chain with $5.5bn worth of debt which has been built up over 11 years of irresponsible spending.
Small to medium businesses consider the Northern Territory government the most supportive government of any jurisdiction in the nation, and that is from the latest Sensis Business Index. Support for the government rose by 10 percentage points in the last quarter, the largest increase of any state or territory government. Overall, Territory business confidence grew by 6% to 26%. That is the second-highest result in the nation and well above the national average of 17%, which declined five points over the quarter.
The retail sector has shown signs of recovery after a prolonged period of weakness. Retail trade volumes in the Territory have increased over the last five consecutive months. In August 2013, retail trade increased by 0.9%. The recent Deloitte survey found almost a fifth of businesses in the Northern Territory expect growth of over 30% within the next 12 months.
Members interjecting.
Mr GILES: Doom and gloom from Labor, but these are the facts. We are leading the nation on all economic indicators and all prospective economic indications. Engineering construction activity in the 2012-13 financial year increased by a whopping 83.5% to $3.5bn – the highest annual level on record. The latest ANZ job advertising figures showed average weekly newspaper advertisements were up in the year to September. Residential building approvals in the year to August increased by 29.9% to $2096 - the news is buoyant - compared to a national increase in building approvals of just 11.6%.
Member for Daly, when we talk about the $5.5bn worth of debt, it is a legacy we carry. It is not doom and gloom, the future is bright, including in the bush, and we will deliver on those economic outcomes.
ANSWER
Madam Speaker, I thank the member for Daly, who has inherited a fantastic electorate but one which has been held back by lack of economic growth transport infrastructure to be able to connect people. Connecting people is about driving economic growth, delivering on jobs, and getting sustainable life opportunities and hope for people. That is what the member for Daly is interested in. He knows we are encumbered by the $5.5bn worth of Labor debt.
Picture the buck’s party when someone is walking along carrying a ball and chain. For us, as government, we have this humongous ball on this humongous chain with $5.5bn worth of debt which has been built up over 11 years of irresponsible spending.
Small to medium businesses consider the Northern Territory government the most supportive government of any jurisdiction in the nation, and that is from the latest Sensis Business Index. Support for the government rose by 10 percentage points in the last quarter, the largest increase of any state or territory government. Overall, Territory business confidence grew by 6% to 26%. That is the second-highest result in the nation and well above the national average of 17%, which declined five points over the quarter.
The retail sector has shown signs of recovery after a prolonged period of weakness. Retail trade volumes in the Territory have increased over the last five consecutive months. In August 2013, retail trade increased by 0.9%. The recent Deloitte survey found almost a fifth of businesses in the Northern Territory expect growth of over 30% within the next 12 months.
Members interjecting.
Mr GILES: Doom and gloom from Labor, but these are the facts. We are leading the nation on all economic indicators and all prospective economic indications. Engineering construction activity in the 2012-13 financial year increased by a whopping 83.5% to $3.5bn – the highest annual level on record. The latest ANZ job advertising figures showed average weekly newspaper advertisements were up in the year to September. Residential building approvals in the year to August increased by 29.9% to $2096 - the news is buoyant - compared to a national increase in building approvals of just 11.6%.
Member for Daly, when we talk about the $5.5bn worth of debt, it is a legacy we carry. It is not doom and gloom, the future is bright, including in the bush, and we will deliver on those economic outcomes.
Last updated: 09 Aug 2016