Mr CONLAN - 2016-04-19
On the back of the one from the Leader of the Opposition, perhaps the Treasurer can counter some of those allegations. Can you please tell the House about the report by Deloitte Access Economics and explain to us how it confirms that the Country Liberals government is doing the right thing to diversify the economy in the Territory, and are you aware of any alternative plans?
ANSWER
Madam Speaker, I thank the member for Greatorex for the question. It is an important question. I do not know whether the Leader of the Opposition has been reading the same report everybody else has, and why he continually wants to talk the Territory down.
The Deloitte Access Economics report reinforces what this government is doing. It demonstrates that we have the second-highest economic growth in the country, at 3.2%. The Northern Territory is also expected to have the highest growth in private consumption of all jurisdictions. It does not sound like this jurisdiction is struggling when we have the highest consumption projected across the Northern Territory. We have the lowest unemployment, at 4%, in the nation. The big one is that we have the lowest CPI growth in the country.
When we came to government, courtesy of that mob across the other side the debt was projected to increase to $5.5bn. We had a budget deficit of $1.1bn. We were not living within our means to the tune of $1.1bn. When we came to government the Territory was almost bankrupt and we had some major problems to deal with. We said we would deal with three things. Firstly, we would immediately address Labor’s debt and deficit legacy. As past budgets show, we have done a pretty good job of cutting Labor’s projected debt.
Secondly, we said we would grow and diversify the economy. Without doubt the Giles government has done exactly that. We have worked hard on industries outside INPEX – the agricultural, mining, tourism and education industries, and a range of other areas, trying to get more industry and private investment into the Northern Territory.
The third thing we said we would do was work to cut the cost of living. Without doubt a CPI sitting at the lowest in the nation – I call members’ attention to December last year when NATSEM produced its report saying we had the lowest cost of living in the country. The policies of this government are working. We have a plan and we are sticking to it. We are paying back Labor debt, driving economic growth and making sure the cost of living stays low.
Madam SPEAKER: Minister, your time has expired.
ANSWER
Madam Speaker, I thank the member for Greatorex for the question. It is an important question. I do not know whether the Leader of the Opposition has been reading the same report everybody else has, and why he continually wants to talk the Territory down.
The Deloitte Access Economics report reinforces what this government is doing. It demonstrates that we have the second-highest economic growth in the country, at 3.2%. The Northern Territory is also expected to have the highest growth in private consumption of all jurisdictions. It does not sound like this jurisdiction is struggling when we have the highest consumption projected across the Northern Territory. We have the lowest unemployment, at 4%, in the nation. The big one is that we have the lowest CPI growth in the country.
When we came to government, courtesy of that mob across the other side the debt was projected to increase to $5.5bn. We had a budget deficit of $1.1bn. We were not living within our means to the tune of $1.1bn. When we came to government the Territory was almost bankrupt and we had some major problems to deal with. We said we would deal with three things. Firstly, we would immediately address Labor’s debt and deficit legacy. As past budgets show, we have done a pretty good job of cutting Labor’s projected debt.
Secondly, we said we would grow and diversify the economy. Without doubt the Giles government has done exactly that. We have worked hard on industries outside INPEX – the agricultural, mining, tourism and education industries, and a range of other areas, trying to get more industry and private investment into the Northern Territory.
The third thing we said we would do was work to cut the cost of living. Without doubt a CPI sitting at the lowest in the nation – I call members’ attention to December last year when NATSEM produced its report saying we had the lowest cost of living in the country. The policies of this government are working. We have a plan and we are sticking to it. We are paying back Labor debt, driving economic growth and making sure the cost of living stays low.
Madam SPEAKER: Minister, your time has expired.
Last updated: 09 Aug 2016