Mr MILLS - 2011-05-05
In parliament this week, you used the examples of budget deficits racked up by the Victorian and ACT governments to justify your descent into debt; however, there is a difference. In Victoria, the deficit is $287 per person this financial year, going to $234 per person next financial year. In the ACT, it is $401 this financial year, growing to $944 per person next financial year. By contrast, the Territory’s per person deficit is $1283 per person, growing to a whopping $1663 per person next financial year. If you put that onto one of your flash little graphs, you would see quite a different looking graph.
It is not fair that Territorians are being lumped with substantial debt to pay for your election promises. How can you claim that your government’s decision to spiral the Territory deeper into debt is, in fact, responsible?
Madam SPEAKER: Your time has expired.
ANSWER
Madam Speaker, I thank the Leader of the Opposition for his question. He simply does not get it. The Territory is a developing jurisdiction. We ran eight consecutive surpluses in a row under Labor. We inherited, of course, a zero flatline economy; zero growth under the CLP - it was flatlining. Construction workers were leaving town in their droves and we had to come in and turn it all around. We turned economic growth around. We were tracking at in excess of 5% economic growth by the time the global financial crisis hit. This place was a boom town. We delivered eight consecutive surpluses in a row, taking $582m off the debt. We have driven debt downwards by $582m through our eight consecutive surpluses in a row.
Over the same period, total private investment in the Territory was $38.9m, inflation adjusted, delivering the waterfront development, Bayu-Undan, the LNG plant, the Alcan expansion, Blacktip, the pipeline, Montara and GEMCO.
The opposition would have you believe that, no, nothing happened; we did not use GST revenue appropriately - we did. We used GST revenue to improve critical services in health, education, housing, police - bearing in mind they had frozen police numbers for four years; not one additional policeman in four years. We reduced the debt by eight surpluses in a row, despite improving dramatically the numbers of doctors, nurses, teachers, police officers and child protection workers. We attracted significant private investment, some $38.9m.
The global financial crisis hit. We were in surplus, tracking well and driving debt down. We did the responsible thing. The International Monetary Fund said at the time that governments need to step up the public spend to support growth in their economies and to support jobs …
Mr MILLS: A point of order, Madam Speaker! To assist the Treasurer, she obviously has the wrong take on this. It is really by way of assistance, I would like to table this …
Madam SPEAKER: You cannot table something in a point of order, Leader of the Opposition.
Mr MILLS: I offer this to the Treasurer so she can add that to the pack so people can get a proper understanding.
Madam SPEAKER: Treasurer, you have the call. It is not a point of order.
Ms LAWRIE: What you do need to look at is where jurisdictions are at. Victoria was tracking at significant surpluses pre-GFC and has plunged into cash deficit as a result of its step-up and spend post-global financial crisis. It is a very developed economy; it has the manufacturing sector and the like. We are a developing economy. I am pointing out that, as a result of the global financial crisis, all jurisdictions in Australia deliberately went into deficit to save jobs and to create economic growth. That has worked. We have created 12 000 jobs in the Territory.
Explain to the Master Builders that you would slash the infrastructure program to stay in surplus, to send their businesses bust, and to send Territorians into the unemployment queues.
It is not fair that Territorians are being lumped with substantial debt to pay for your election promises. How can you claim that your government’s decision to spiral the Territory deeper into debt is, in fact, responsible?
Madam SPEAKER: Your time has expired.
ANSWER
Madam Speaker, I thank the Leader of the Opposition for his question. He simply does not get it. The Territory is a developing jurisdiction. We ran eight consecutive surpluses in a row under Labor. We inherited, of course, a zero flatline economy; zero growth under the CLP - it was flatlining. Construction workers were leaving town in their droves and we had to come in and turn it all around. We turned economic growth around. We were tracking at in excess of 5% economic growth by the time the global financial crisis hit. This place was a boom town. We delivered eight consecutive surpluses in a row, taking $582m off the debt. We have driven debt downwards by $582m through our eight consecutive surpluses in a row.
Over the same period, total private investment in the Territory was $38.9m, inflation adjusted, delivering the waterfront development, Bayu-Undan, the LNG plant, the Alcan expansion, Blacktip, the pipeline, Montara and GEMCO.
The opposition would have you believe that, no, nothing happened; we did not use GST revenue appropriately - we did. We used GST revenue to improve critical services in health, education, housing, police - bearing in mind they had frozen police numbers for four years; not one additional policeman in four years. We reduced the debt by eight surpluses in a row, despite improving dramatically the numbers of doctors, nurses, teachers, police officers and child protection workers. We attracted significant private investment, some $38.9m.
The global financial crisis hit. We were in surplus, tracking well and driving debt down. We did the responsible thing. The International Monetary Fund said at the time that governments need to step up the public spend to support growth in their economies and to support jobs …
Mr MILLS: A point of order, Madam Speaker! To assist the Treasurer, she obviously has the wrong take on this. It is really by way of assistance, I would like to table this …
Madam SPEAKER: You cannot table something in a point of order, Leader of the Opposition.
Mr MILLS: I offer this to the Treasurer so she can add that to the pack so people can get a proper understanding.
Madam SPEAKER: Treasurer, you have the call. It is not a point of order.
Ms LAWRIE: What you do need to look at is where jurisdictions are at. Victoria was tracking at significant surpluses pre-GFC and has plunged into cash deficit as a result of its step-up and spend post-global financial crisis. It is a very developed economy; it has the manufacturing sector and the like. We are a developing economy. I am pointing out that, as a result of the global financial crisis, all jurisdictions in Australia deliberately went into deficit to save jobs and to create economic growth. That has worked. We have created 12 000 jobs in the Territory.
Explain to the Master Builders that you would slash the infrastructure program to stay in surplus, to send their businesses bust, and to send Territorians into the unemployment queues.
Last updated: 09 Aug 2016