Northern Territory Second Reading Speeches
[Index]
[Search]
[Bill]
[Help]
APPROPRIATION BILL 2000-2001
(This an uncorrected proof of the daily report. It is made available under the condition that it is recognised as such.)
Mr Speaker, I move that the Bill be read a second time and in doing so I table the 2000-01 Northern Territory Budget Papers.
This is the Northern Territory’s 23rd budget and my fifth as Treasurer. This is an action budget. It is about jobs, economic growth, and delivering quality services to Territorians. The budget has been framed in an environment of:
� the fastest growing economy in Australia;
� low inflation, particularly in the Territory;
� sustained population growth – the third highest of all States and Territories;
� the lowest unemployment rate in Australia; and
� increasing aspirations for better services.
The people of the Northern Territory rightly expect the government to deliver on jobs and services. This budget does that.
There are a number of highlights in this budget including $50m as the Territory’s first contribution to the construction of the railway. Detailed design work is about to commence and construction of the largest single capital works project in the Territory’s history is expected to start later this dry season. The railway will cost $1.2 billion. Construction over 3 years will generate 1 300 to 2 000 jobs in the Territory as well as significant business for subcontractors and flow on benefits across the Territory. The Alice Springs to Darwin railway will be the first infrastructure project in decades to deliver jobs and business opportunities to the residents of rural Australia.
The success of the railway is dependent on its integration with the new East Arm Port. The government has committed $19m for the first element of stage 2 of the East Arm Port. A fast and efficient railway combined with a world class, state of the art port will provide the key building blocks for the Northern Territory to become a major transport hub and service centre which will contribute to growth and diversification in all sectors of the economy.
Initiatives in the budget that will promote further economic growth are:
� a reduction in pay-roll tax from 6.75% to 6.6%;
� an increased capital works program including police forensic laboratory and expanded public housing programs providing a strong boost for the construction industry and increased roads programs;
� reductions in electricity costs for commercial users; and
� provision for a Convention Centre in Alice Springs.
Services for the community have also been given priority. Key initiatives are:
� major hospital developments and redevelopments in Alice Springs and Darwin, and funding for growth in hospital and community care services;
� substantial rejuvenation in all areas of education including new schools to support population growth, major investment in information technology in schools and assistance for the Northern Territory University;
� the establishment of a comprehensive, co-ordinated Crime Prevention and Community Safety Program involving government and the community and as minister for police I will be announcing the details at a later date; and
� expansion of diversionary programs operated by Police and Correctional Services will also occur.
I turn to the Territory economy, Mr Speaker. The demands of a growing population and the performance of the Territory economy have determined the budget parameters. Population growth underpins economic growth. Territory population growth of 1.5% continues to be higher than the national average of 1.2% and only slightly lower than the rate of growth in Queensland and Western Australia. Headline economic growth is estimated at 12.8% in 1999-2000, almost 3 times the national growth. About half of this is directly attributed to the very rapid increase in offshore oil production from the Laminaria/Corallina field in the Timor Sea. However, even when the impact of this highly capitalised industry is removed, the underlying rate of economic growth of 6% is still impressive.
The main contributors to underlying growth have been the Defence build-up, activity associated with the East Timor peacekeeping and relief effort, strong growth in the rural industries, particularly cattle and mangoes, and renewed growth in tourism. These have been supported by a 5.4% increase in household consumption, incorporating growth in retail turnover of 6.8%.
The Territory's economic success is largely based on international trade. In 1999-2000, the Territory is estimated to have substantially increased export levels, primarily due to the surge in oil exports and an increase in live cattle exports. Territory exports per capita are around 4 times the national average and higher than all other jurisdictions. The Territory also enjoys a large trade surplus, estimated at 15.5% of output compared to a national deficit of 2.4% of output.
As a result of the rapid rate of job creation, the Territory’s unemployment rate has consistently been lower than the national average and generally lower than any other jurisdiction. In 1999-2000, Territory unemployment was an estimated 4.1% compared to 7.2% nationally. While employment, as reported by the ABS, remained stable in the last 12 months, it is the trends over time that are the more informative. The latest figures return the growth rate to the healthy trend of the last 5 years after the high growth rates in 1999.
Darwin experienced the lowest rate of inflation of any capital city in 1999-2000 with the consumer price index increasing by 1.9%, compared to a 2.8% increase nationally. Wages growth remains in line with national movements, although the Territory continues to have a slightly higher level of wages than nationally, third highest after the ACT and New South Wales.
Business confidence remains high in the Territory with more small businesses reporting confidence for the coming year than nationally. In addition to oil production from the Laminaria/Corallina field, prospects are good in the mining and energy industry. Oil production from the Bayu-Undan field in the Timor Sea is expected from 2003.
Further growth in the tourism industry is anticipated, with growth in international visitors expected to be particularly strong. Visitors to Darwin associated with the East Timor peacekeeping and relief effort have provided a useful bonus in 1999-2000.
Rural industries performed well over the past year largely due to the ongoing recovery in cattle production, including live cattle exports, and a very strong increase in mango production. The development of new markets is the goal for rural industries.
The construction industry had a mixed year which was not unexpected given the high level of activity in recent years. Residential construction slowed to more sustainable levels, after a period of rapid growth and consequent oversupply in Darwin. House prices have fallen and Territory housing is now the most affordable in Australia. Non-residential construction was also down in 1999-2000 from the high levels in recent years but is expected to increase in 2000-01 assisted by capital works projects in this budget. Engineering construction has been strong in recent years due to the development of the Laminaria/Corallina oil field, but this had limited onshore benefits. Further limited benefits will flow from the development of the Bayu-Undan oil field.
Much more substantial benefits will flow from the construction of the railway from Darwin to Alice Springs and stage 2 of the East Arm Port. Once operational, the railway will reduce transport costs, improve the competitiveness of Territory businesses and provide the platform for the development of Darwin as a transport hub, serving both Australia and Asia. This will set the scene for a new era in the Territory's economic development.
The Territory economy is forecast to grow at an annual average rate of about 6% over the next 4 years. This is a strong, but sustainable rate of growth, and is faster than all other jurisdictions.
I mentioned last year, the Territory had a number of world class prospects emerging, any one of which would have a dramatic effect on the Territory economy, both in the short and long run. I can report that substantial progress has been made during the last 12 months.
Regarding the railway, the contractual and financial arrangements are close to being finalised. Indeed, I am pleased to announce that contracts are expected to be signed next month. It is now expected that work will commence early next financial year. The government has committed to providing its contribution early in the project phase and I have already indicated that this budget provides $50m for the project.
I foreshadow that, in the June sittings, I will introduce a special Appropriation Bill which will provide for the rest of the Territory’s contribution. Depending on the final agreements regarding the flow of funds from the Commonwealth and South Australia to the project, the special Appropriation Bill may encompass payments other than those from the Territory. The $50m in this budget is to enable planned expenditures to be funded in July pending passage of the special Appropriation Bill in August.
Stage 2 of the East Arm Port has commenced and its completion will coincide with that of the railway. The world class transport hub with the potential to transform the Territory economy will then be complete.
In relation to gas onshore, the government is in the process of negotiating agreements with certain parties. These agreements do not, of themselves, guarantee the projects will commence but they are an integral part of that process. More importantly, they are a clear statement that we are moving forward and getting closer to our fundamental objectives of having gas onshore with all the jobs growth that will create.
Infrastructure Requirements - it had been expected that with the commencement of the railway, the level of expenditure in the capital works program could be reduced. However, the construction industry has slowed and the government has decided it is an appropriate time to achieve the dual objective of protecting the viability of the construction industry while providing essential infrastructure for Territorians.
The Territory has experienced substantial population growth over the past few years and this has led to additional requirements for such basic facilities as schools, hospitals and power stations. In this year’s budget, we have also brought forward a number of initiatives that would have to be done at some stage in the near future but are commencing next year to assist in providing increased work for the construction industry. Funding for the increased capital works will partly be through borrowings which will increase the Territory’s gross debt by $91m in 1999-2000 and $32m in 2000-01. This will mean that the self imposed $2 billion cap on debt set in 1997 will be exceeded. However, since that decision was taken, the Territory has incurred capital expenditures of $700m including more than $250m in 1999-2000.
The Territory’s assets have grown considerably at the same time as there was a reduction in debt levels. However, the Territory is now at the stage where there has to be some increase in debt to fund long term economic assets such as the Channel Island Power Station, further expansion of the port, and a number of key roads across the Territory. These assets will generate economic returns over the asset life.
The Territory’s capacity to service additional debt is unquestioned. Interest costs, as a proportion of total revenue, remain unchanged at 9%. Gross debt at the end of 2000-01 will still be $36m less than the peak in 1996. Similarly, the interest on the Territory’s debt will be $20m less than in 1996. This is proof that the government is managing the Territory’s finances responsibly. We borrow only when we need to and on assets which generate economic activity thus providing a return to service the debt.
The Efficiency Of Government - the Territory government is constantly investigating ways to provide services more efficiently. This means delivering the same service at a lower cost or more services with the same budget impact. The government pursues efficiencies because resources are limited and it represents another avenue for better services while living within our means.
In 1999-2000, a contract with Optus to outsource the government’s communications services has been established, providing ongoing budget savings of $5m per year. The Territory community will also benefit through the active participation of a second major player in the telecommunications area. The outsourcing of IT Services has commenced. The government’s electronic messaging contract was arranged in 1999. Three separate tenders have been called for desk top services, applications maintenance and data services. It is expected tenders will close on 31 July following which detailed evaluations will be undertaken. Decisions should be made towards the end of 2000 with implementation commencing in 2001 for completion by 2002. Considerable expansion of the locally based IT industry is expected to result from this process stimulating industry growth and job creation.
Further reform of Government Business Divisions has continued throughout 1999-2000 with independent boards established for the Power and Water Authority and the Darwin Port Corporation. Competition was introduced to the electricity supply industry from 1 April this year and this is expected to contribute to further reductions in electricity prices. The new arrangements provide the competitive environment necessary to ensure PAWA achieves the $30m financial improvement target previously set for it by the government and will provide capacity for further price reductions which will be of benefit to all Territorians. A detailed analysis of the reforms is provided in Budget Paper No 3.
Changes In Budget Scope - in previous years, the Northern Territory University was included in the budget even though it was not subject to the Financial Management Act. This year, the Batchelor Institute of Indigenous Tertiary Education also moves outside of the Financial Management Act. It has been decided to treat these institutions in the same way as other similar organisations, such as the Menzies School of Health Research, and show only the transfers from the Territory in the budget rather than their total operations. This includes the Rural College which is now managed by the University. This change in budget scope means the total expenditure and revenue will be lower but with no effect on net debt.
The Outcome For 1999-2000 - the emerging capital needs have also had a material effect on the estimated outcome for 1999-2000 which is an increase in net debt of $121m. The result can be explained by a few key factors many of which I have explained previously. The most important of these is $33m for new generating equipment at Channel Island Power Station required to ensure a continued reliable electricity supply to existing residents and businesses and to support future growth in the population and economy. Other one-off capital costs are $4m to purchase the police aircraft, $11m for flood related road damage and $2m for railway related expenditure.
$27m was transferred from 1998-99 into 1999-2000 associated with timing of both capital and recurrent outlays. This occurs every year as the budget is prepared well before the end of the financial year and precise timing of particular expenditures cannot be accurately predicted. Another factor is the increase in allocation for education of $21m. There has been a number of emerging pressures in education during the year including Learning Lessons, implementation of enterprise bargaining agreements and the slower than expected savings from the restructuring commenced last year. The government has decided that core services must not be affected detrimentally and as a result has supplemented the education budget. Education is also incurring substantial capital expenditure both this year and next year to cater for the growing number of Territory students.
Other increases are $2m for GST implementation and $6.5m for additional superannuation costs. The Power and Water Authority incurred an additional cost of $13m, mainly as a result of making a cash allocation for the finalisation of a long standing matter regarding gas transportation, but also due to increased gas costs.
Despite these changes, the Territory will comply with 4 of the 5 elements of the fiscal strategy. Current outlays will rise by 6.9%, which is 2.6% above the annual limit in the fiscal strategy. However, on a 3 year average basis from 1998-99 to 2000-01 current outlays are not rising faster than inflation and population growth combined.
I turn now to the 2000-01 Budget. In 2000-01, the gap between the Territory’s revenue and its expenditure will close significantly. The net budget presentation is the more appropriate measure for assessing the budget aggregates and forms the basis for analysis against the fiscal strategy. In net terms receipts will be $2 009m and expenditure $2 053m. Receipts will increase by 3.5% and expenditure is budgeted to fall by 0.3%. While there are some one-off expenditures in 1999-2000, expenditure restraint has been applied in 2000-01.
Savings from the rationalisation of IT services and the outsourcing of communications have produced ongoing efficiencies which are evident in reduced outlays in 2000-01. In addition, there are reductions in the government electricity tariff which will flow through to reduced operating costs for agencies and the removal of embedded tax savings have also been taken into account. These factors combined have reduced operating costs by around $25m in 2000-01.
There is also a one-off shortfall in estimated receipts of $15m in 2000-01 due to the timing delay between the payment of GST and the receipt of input tax credits. Net debt is estimated to increase by $45m, however, when the GST timing effect is removed, the underlying increase in net debt is $30m or 1.5% of receipts. The 2000-01 budget satisfies all aspects of the Fiscal Strategy.
Mr Speaker, the GST effects on the budget. The budget includes a range of changes which result from the Commonwealth’s tax reform initiatives. There is a limited effect on allocation as expenditure is recorded net of GST. This is consistent with accounting standards. While Territory government agencies will pay GST like everyone else on the purchases they make, tax refunds will be returned to the agency. Almost all functions of government will be eligible for a full refund on GST paid. Housing is the main function where this does not apply and there will be a small increase in net expenditure for which the Territory has been compensated. There is on average, a 7 week timing difference between payment of GST and the tax refund. This means a one off revenue shortfall of $15m across government in 2000-01.
The Commonwealth revenue items have been changed in the budget to show the cessation of Financial Assistance Grants and Revenue Replacement Payments and the commencement of GST Revenue Grants and Guarantee Payments in 2000-01.
Receipts for Territory gambling revenue have been reduced to take account of the GST to be applied on player loss of gambling products.
Government Business Division prices will rise by less than 10% with the introduction of the GST, as the embedded tax savings in those organisations will be passed on in lower prices. Most general government fees and charges are GST free. However, those general government charges which are subject to the GST will be increased by 10% as the embedded tax savings from general government agencies have been taken into account by the Commonwealth in calculating the GST guarantee payments to the Territory. Thus, the savings are no longer available to the Territory and they cannot be passed on to users.
Revenue Initiatives - this budget contains a number of revenue initiatives. Many are designed to increase simplicity and efficiency for businesses, some are designed to prevent erosion of the tax base and there is some fine tuning of tax rates both up and down to create a better overall framework. As I have said, the pay-roll tax rate will reduce from 6.75% to 6.6% from 1 July 2000 resulting in a revenue loss of $2.1m. This reduction is a further step in the reform of the Territory’s pay-roll tax regime. The Pay-roll Tax Act will be amended to make it clear that labour hire firms are subject to pay-roll tax for payments to their workers. All states have taken similar action which results in equitable treatment of employers.
Following requests from industry, the due date for lodging pay-roll tax returns will be extended to the 21st day of each month. For most employers this will align with the due date for their Commonwealth Pay-As-You-Go withholding liabilities. The change will provide cash flow benefits as well as increased simplicity for employers.
Increases in stamp duties will align the Territory more closely with other jurisdictions. The stamp duty rate on general insurance policies will increase from 8% to 10%. Indemnity insurance will be taxed at this rate rather than nominally charged. There is no change to the life insurance rate. These measures are expected to raise $2.2m.
Stamp duty on hiring arrangements will extend to hire purchase arrangements and the rate will increase from 1.5% to 1.8% resulting in $1m in additional revenue. Legislation will be amended so that hiring duty will be levied on a GST exclusive basis thus ensuring there is no cascading effect of the 2 taxes. All other stamp duties will be determined on a GST inclusive base.
From today, a number of revenue protection measures will apply to prevent conveyance duty avoidance techniques. Furthermore, the law will make it clear that mining tenements and mining information attached to those tenements are to be included in the value of the real property transfer. These measures are consistent with the practice in the states.
Other changes to enhance equity and administrative efficiency will:
� improve the administration of lease duty and motor vehicle duty;
� rationalise a range of nominal duty heads; and
� provide interest on refunds arising from a successful objection.
As part of its tax reform initiatives, the Commonwealth will increase incentives under the diesel fuel excise scheme and these will replace the Territory’s off road diesel subsidy scheme. Consequently, the Territory will remove its general fuel subsidies from 1 July 2000. Savings of $7m from cessation of the 1.1 cents per litre general fuel subsidy will be used to fund a major new information technology program in Territory schools. A minimal effect on petrol prices is expected, particularly given the Commonwealth initiatives to further subsidise fuel costs in regional and remote areas.
Water and sewerage charges will be increased by 5% which will mean that the average household bill will increase by around 65 cents per week. Water and sewerage charges are not subject to GST. Domestic electricity charges will rise by 8.7% after the removal of embedded tax savings and the application of the GST. Commercial tariffs will fall by 0.5 cents per kilowatt hour to 15 cents per kilowatt hour but these tariffs will also be subject to the 8.7% net GST increase. However, as business will be able to get a refund through claiming input tax credits, the effective price for electricity will fall from 15 cents to 14.8 cents per kilowatt hour or a 4.4% reduction.
Pensioner concessions for water, sewerage and electricity will be adjusted so that pensioners will be subject to no greater increases than other consumers. Pensioners will receive an increase in their pension from 1 July 2000 to offset price increases resulting from the GST.
Territory Wildlife Parks entry fees will have a GST inclusive price structure, ranging from $3.60 for a school group to $40 for a family, applying from 1 July 2000. Bus fares will increase by 3.5% after the GST is applied, or an average increase of 20 cents for an adult fare.
Turning now to expenditure initiatives. First, Health and Community Services. This budget includes major increases in health spending. An additional $30m has been provided for the redevelopment of the Royal Darwin Hospital. Combined with the 1999-2000 allocation, the redevelopment will be close to $38m. A further $16m has been approved for the extensive redevelopment of the Alice Springs Hospital which will include a private wing. Total redevelopment cost will be $30m, including the funds approved in 1999-2000. These projects, combined with the new health precinct including a nursing home to be constructed at Palmerston, will provide a comprehensive expansion of critical health infrastructure and are some of the large projects which will sustain the construction industry.
An additional $3.2m has been allocated for community services, comprising $500 000 towards high support disability needs, $400 000 to non-government organisations for superannuation increases, $326 000 increased funding for St John Ambulance, $1m for non-government organisations growth and reforms, and a further $1m to match Commonwealth funding for community service programs. An additional $3m has been provided in 2000-01 for increased growth in the use of acute care hospital services. This is in addition to the $13m already provided in 1999-2000.
The Living With Alcohol Program will continue, but it will be refocused and the Minister for Health , Family and Children’s Services will provide further details.
Education is of prime importance to this government and a significant increase in expenditure has been provided for both schools and tertiary education. As a result, the Department of Education’s allocation has been increased and, together with a range of specific initiatives, will total $335.5m in 2000-01. The government will implement a major expansion of information technology services in schools. $5.7m will be provided in 2000-01 rising to $7m to ensure that Territory students have access to emerging technologies and will gain the skills that are fundamental to success in today’s increasingly technological society.
The government will pilot innovative educational delivery methods, focusing on increasing attendance and achievement of Indigenous students.
$12.3m is allocated for school capital works. This includes $9.2m for the Girraween pre and primary school, $1.3m for the Palmerston secondary special school and extensions to other schools, to service student growth.
The Northern Territory University is critical to the social and economic wellbeing of the Territory. The government is providing $7m in financial support over 3 years to alleviate the difficult financial situation caused by the Commonwealth government’s reductions in funding to higher education.
Law, Order and Public Safety - in 1997, the government committed to increasing police personnel by 150. This budget provides a further $3.6m to ensure that commitment is honoured. On 10 April, the Prime Minister announced an additional $5m for expanded law and order programs, predominantly for juveniles. An additional 12 police will be funded from the Commonwealth assistance for delivery of diversionary programs, details of which will be released once they are finalised.
An Aboriginal Interpreter Service will also be established.
The government is moving to have best practice forensic services available in the Territory. $5.6m has been provided for construction to national accreditation standards of a forensic services facility at Peter McAulay Centre, Berrimah. $300 000 has been approved to establish fingerprint readers in Darwin and Alice Springs. These will enable immediate comparisons with fingerprints on the National CrimTrac database. Expenditure of $1.1m over three years has been allocated for additional equipment for police officer safety.
$5.3m is provided for the first stage of the redevelopment of the Darwin Correctional Centre, with construction of a new low security area to begin next year. This 100 prisoner facility will replace the existing temporary low security area.
Housing - first home buyers will benefit from the new $7 000 First Home Owners Scheme introduced to compensate for the effect of the GST on the cost of new homes. First home buyers will also continue to benefit from access to the Territory’s stamp duty concessions for first home owners and its housing schemes, such as HomeStart, for which funding has been increased to $24m. From 1 July 2000, assistance to first home owners will be complemented by a new assistance package providing up to $400 towards the installation of a solar hot water system. The Territory government will contribute $250 while the solar hot water system manufacturers will contribute up to $150, depending on the size of the system. The annual cost to government is estimated at $350 000.
A $32m Territory housing program will include 134 new one and two bedroom units in Darwin and Palmerston, maintenance and upgrade programs, and additional staff accommodation in a number of centres. ‘Seniors villages’ will be constructed to cater for the growing number of Territorians remaining in the Territory after their retirement.
Tourism, Parks and Regional Development - $1 million has been provided towards the establishment of a Convention Centre in Alice Springs. While this will not be the final level of contribution, it does demonstrate government’s commitment to this project. The Lasseters Group has been selected as the preferred tenderer for the Convention Centre. Detailed negotiations have commenced and the outcome will be reported in due course.
This government will demonstrate its confidence in Central Australia by securing land for the future expansion of Alice Springs through the purchase of Owen Springs Station. The purchase of this 3 652 km� land mass will also enable land to be made available for recreation, tourism and commercial use in addition to providing land for pastoral, horticultural and hobby farm development and the extension of the national park estate in the West Macdonnell Ranges.
The Parks and Wildlife Commission will have a capital works program of $1.2m, covering a range of new works and improvements, including enhancements at the Holmes Jungle Nature Park, and works at Limmen National Park to be established in the Gulf Region.
$120 000 is being provided to upgrade lighting, sound and staging equipment at the Araluen Centre to assist in attracting national and international touring productions to the Territory and $175 000 has been provided to construct a display area at the Battery Hill Mining Centre for the McLaughlin mineral collection to enhance tourist activities in Tennant Creek.
An expanded $6m program for accelerated gravelling and sealing of the Mereenie tourist loop has been approved. This will provide a major boost to tourism opportunities in Central Australia while providing the construction industry with a sustained program of work.
Lifestyle and Environment - the budget includes urban beautification and enhancement programs to improve street scapes, open space, cycle and walking tracks in major centres at a cost of $2.5m. $300 000 has been set aside to restore the Dundee Boat Ramp to safe usage. Funding has been approved for the coastal net fishing buy back scheme providing additional protection of fish stocks and assisting recreational fishermen; with the same objective, public facilities at Buffalo Creek will be restored and upgraded at a cost of $350 000. $0.5m will be provided to further combat salt water intrusion in the Mary River region.
Services to Industry and Infrastructure Developments - there are many initiatives to further support industry. the budget establishes a Major Projects Support Unit for the next two years within the Department of Industries and Business. This will assist Territory businesses to capitalise on economic developments particularly the Darwin to Alice Springs rail link. $19m has been approved for wharf extensions at the East Arm Port. $5m is provided to the Darwin Port Corporation for port operation and expanded maintenance programs particularly at Stokes Hill Wharf. $1.96m for subdivision and roads will release more farmland at Lambells Lagoon and Katherine-Daly Basin.
The expansion of live cattle exports to the Philippines and Vietnam will be fostered through funding of $230 000. This will broaden existing marketing support already provided for beef cattle exports to Indonesia. $7.4m is approved for the first stage of the Howard East Borefield to meet increased water supply demand in Darwin. There is $3m for improved power, water and sewerage services and facilities for remote Aboriginal communities. $1.3m for the Farrar-Bakewell connector road will improve traffic flow in these new residential precincts.
Funding for capital works on the road network includes $1m for constructing and sealing selected sections of the Tanami Road; $1.5m to construct additional overtaking lanes on the Stuart Highway between Darwin and Katherine and $0.8m to upgrade the Manton River Bridge on the Stuart Highway. Effective management and sustainable development of our land and natural resources are critical to the Territory’s future. $1.6m will be provided over 2 years to redevelop the Land Administration Information System to meet the emerging needs of industry, the community and government.
In conclusion, Mr Speaker, this is a budget for the future, a budget for a new century. A budget that will deliver jobs and economic growth to Territorians through the commencement of an infrastructure project of international significance. It is a budget that builds on the sound economic management of this government and sets the scene for a period of rapid growth and job creation while also delivering quality services and quality of life.
With the railway as the focal point, this budget will set the development agenda of the Northern Territory for the next decade and the next generation of Territorians. The government has struck a responsible balance between revenue measures and asset spending. Spending that will create jobs and opportunities through the construction of world-class infrastructure. Spending that will improve services in vital areas of health and education.
The government framed this budget with a vision for the future. A vision that includes taking the Territory through its next stage of development consistent with the objectives of Foundations for Our Future. Less than 25 years ago, the Territory was administered by a distant and unresponsive bureaucracy. The progress since self-government has been exceptional and will continue in this new century under this ‘action budget’. The Territory economy will soon experience the growth associated with the railway and oil and gas developments. Growth and opportunities that will be the envy of other jurisdictions. Growth that is a direct result of the vision of Territorians and the ability of this government to create an environment where opportunity turns into reality.
Mr Speaker, I commend the bill to honourable members.
[Index]
[Search]
[Bill]
[Help]