Mr KNIGHT - 2006-08-29
It is important that the Northern Territory business community has confidence in our economy and the government as they are an important factor in driving our economic growth and providing employment opportunities. Could the minister advise the House as to the status of business confidence, and the flow-on effects for employment and investment?
ANSWER
Madam Speaker, I thank the member for Daly for his question. It is timely. In the Territory business confidence is very strong at the moment, particularly in the Darwin and Palmerston area where there are cranes on the skyline. Everybody you talk to is knocking back work because they have so much on their books and in their forward projections. The biggest issue we are facing as an economy is a skilled workforce.
It is not just the anecdotal evidence and what we see around us. The Sensis Business Index, which was released today, shows that small business conditions in the Northern Territory lead the nation. We should be very pleased about that because small business is the engine room of our economy. The largest component of employees work in small business, and it is great to see that small business confidence is so high.
In the last quarter, Territory small businesses experienced the strongest sale and profit results in the nation. It actually defied the national trend. These conditions of confidence for small business are supported by the Territory government and the strategic investments we have made. When this government came to office, we inherited an economy where there was 0.0% growth under our predecessors. There was no confidence in the economy. People were leaving the Northern Territory. That has been turned around as a result of strategic investment and capital works.
Over $1bn in cash has been invested by this government in capital works across the Northern Territory. That is what the business community wants to see: as a government leading with confidence on projects like the waterfront, which is a 10 year vision. All we get is the opposition bagging it at every turn. That is not what business wants to hear. Business wants government to lead the way and show confidence in our great Territory as well.
The significant boost in tourism marketing is starting to drive greater numbers to the Northern Territory, along with the confidence of airlines such as Tiger Airways to invest in the Northern Territory and, cuts to taxes, particularly the cuts to payroll tax that this government has made in terms of raising the threshold from $600 000 to $1.25m.
The Sensis Business Index for August shows that business confidence prospects for the next 12 months are 15 percentage points above the national average. It is not just for the next couple of months. We are coming into what is normally a bit of a slow time in the build-up and the Wet Season, but business confidence in the Northern Territory is 15 percentage points above the rest in the nation.
Madam Speaker, this is good news. It is good news for investment, for employment and for every member of this House.
ANSWER
Madam Speaker, I thank the member for Daly for his question. It is timely. In the Territory business confidence is very strong at the moment, particularly in the Darwin and Palmerston area where there are cranes on the skyline. Everybody you talk to is knocking back work because they have so much on their books and in their forward projections. The biggest issue we are facing as an economy is a skilled workforce.
It is not just the anecdotal evidence and what we see around us. The Sensis Business Index, which was released today, shows that small business conditions in the Northern Territory lead the nation. We should be very pleased about that because small business is the engine room of our economy. The largest component of employees work in small business, and it is great to see that small business confidence is so high.
In the last quarter, Territory small businesses experienced the strongest sale and profit results in the nation. It actually defied the national trend. These conditions of confidence for small business are supported by the Territory government and the strategic investments we have made. When this government came to office, we inherited an economy where there was 0.0% growth under our predecessors. There was no confidence in the economy. People were leaving the Northern Territory. That has been turned around as a result of strategic investment and capital works.
Over $1bn in cash has been invested by this government in capital works across the Northern Territory. That is what the business community wants to see: as a government leading with confidence on projects like the waterfront, which is a 10 year vision. All we get is the opposition bagging it at every turn. That is not what business wants to hear. Business wants government to lead the way and show confidence in our great Territory as well.
The significant boost in tourism marketing is starting to drive greater numbers to the Northern Territory, along with the confidence of airlines such as Tiger Airways to invest in the Northern Territory and, cuts to taxes, particularly the cuts to payroll tax that this government has made in terms of raising the threshold from $600 000 to $1.25m.
The Sensis Business Index for August shows that business confidence prospects for the next 12 months are 15 percentage points above the national average. It is not just for the next couple of months. We are coming into what is normally a bit of a slow time in the build-up and the Wet Season, but business confidence in the Northern Territory is 15 percentage points above the rest in the nation.
Madam Speaker, this is good news. It is good news for investment, for employment and for every member of this House.
Last updated: 09 Aug 2016