Mr KURRUPUWU - 2015-08-25
Can you outline how the Northern Territory economy is performing and what the Country Liberal government is doing to ensure the economy stays on track?
ANSWER
Madam Speaker, what we are doing to ensure the economy stays on track is continuing to govern. The member for Arafura would know what economic activity means for his people in Maningrida, Gunbalanya, Goulburn Island and the length and breadth of his electorate.
We were having a good chat this morning and the member for Arafura, just like everyone in this Chamber and everyone I was talking to at the Chamber of Commerce lunch yesterday, including the PRBA, is happy to hear the Northern Territory is leading the nation across all levels. The business confidence index is the highest in the country, and the labour force participation rate is 76.3%, the highest number in the country of people in a job, looking for a job or undertaking training. That is against 62% nationwide. We are at 76%, but not only are that many people participating in the economy, we have the lowest unemployment rate in the country at 4.2%.
Normally what happens when you have a low unemployment rate with a high participation rate is significant inflation. Do we have significant inflation? No. We had an inflation rate increase of 0.2% released a month ago; that is the lowest in the country. We have the highest growth, the highest confidence, the lowest unemployment and the lowest inflation. It explains why, when I sit around the COAG table, every jurisdiction wants to be like the Northern Territory.
I was not overly surprised when I saw an article in a South Australian newspaper last week, which was replicated in the NT News on Saturday, which says that South Australia wants to merge with the Northern Territory. Is there any wonder? I get along pretty well with Jay Weatherill, Premier of South Australia. He is doing quite a good job and we work closely, but I can understand why South Australia wants to merge with us. It is because of our low unemployment and our high growth rate. Things are happening; we are building things, such as the port and pipeline infrastructure. It is happening here; land is being developed, houses are being put forward and house and petrol prices are coming down.
What do they have in South Australia? Holden is closing, we do not know what is happening with ship building and the unemployment rate continues to rise to well over 8%. They are difficult times in South Australia and Jay, as good an operator as he is and as good a relationship I have with him, is from the Labor mould.
It is interesting to look at Labor governments; their jurisdictions are all going backwards. To those people living in Queensland, I feel for you. We will not merge with Queensland, I say to Anna Palaszczuk, but I can see that Queensland will go backwards like South Australia. Member for Arafura, this is the best place to be economically, socially and culturally.
ANSWER
Madam Speaker, what we are doing to ensure the economy stays on track is continuing to govern. The member for Arafura would know what economic activity means for his people in Maningrida, Gunbalanya, Goulburn Island and the length and breadth of his electorate.
We were having a good chat this morning and the member for Arafura, just like everyone in this Chamber and everyone I was talking to at the Chamber of Commerce lunch yesterday, including the PRBA, is happy to hear the Northern Territory is leading the nation across all levels. The business confidence index is the highest in the country, and the labour force participation rate is 76.3%, the highest number in the country of people in a job, looking for a job or undertaking training. That is against 62% nationwide. We are at 76%, but not only are that many people participating in the economy, we have the lowest unemployment rate in the country at 4.2%.
Normally what happens when you have a low unemployment rate with a high participation rate is significant inflation. Do we have significant inflation? No. We had an inflation rate increase of 0.2% released a month ago; that is the lowest in the country. We have the highest growth, the highest confidence, the lowest unemployment and the lowest inflation. It explains why, when I sit around the COAG table, every jurisdiction wants to be like the Northern Territory.
I was not overly surprised when I saw an article in a South Australian newspaper last week, which was replicated in the NT News on Saturday, which says that South Australia wants to merge with the Northern Territory. Is there any wonder? I get along pretty well with Jay Weatherill, Premier of South Australia. He is doing quite a good job and we work closely, but I can understand why South Australia wants to merge with us. It is because of our low unemployment and our high growth rate. Things are happening; we are building things, such as the port and pipeline infrastructure. It is happening here; land is being developed, houses are being put forward and house and petrol prices are coming down.
What do they have in South Australia? Holden is closing, we do not know what is happening with ship building and the unemployment rate continues to rise to well over 8%. They are difficult times in South Australia and Jay, as good an operator as he is and as good a relationship I have with him, is from the Labor mould.
It is interesting to look at Labor governments; their jurisdictions are all going backwards. To those people living in Queensland, I feel for you. We will not merge with Queensland, I say to Anna Palaszczuk, but I can see that Queensland will go backwards like South Australia. Member for Arafura, this is the best place to be economically, socially and culturally.
Last updated: 09 Aug 2016