Leader of the Opposition, Lia Finocchiaro, says it’s not surprising the Northern Territory has been labelled the nation’s worst performing economy for the ninth consecutive quarter given the Gunner Government’s shocking financial mismanagement.
“The NT is once again ranked last on six of the eight key economic indicators, according to CommSec’s State of the States report. The fact unemployment in the NT is now more than 26 percent above the decade average should be sounding serious alarms bells for the Gunner Government.
“This report, compiled by independent economists, cements the fact Labor has no short, medium or long-term economic plan to reverse the $8.4 billion net debt it has racked up over the last four and a half years in government.
“In that time, the Gunner Labor Government has failed to grow our population or attract private sector investment to kick start our struggling economy. The Chief Minister needs to show some fiscal restraint and to stop relying on handouts from Canberra. Labor is devoid of ideas to manage our debt-ridden economy, fiscally incompetent and has a PhD in political spin.
“Just one example is the Chief Minister’s recent multi-billion dollar funding boost for miners without realising it’s his government’s approvals process that is putting up roadblocks for the industry. At the same time the Gunner Labor Government is providing more funds for mining, it’s also seeking to raise taxes on mines. This creates uncertainty by giving with one hand and taking away with the other.
“The CLP’s Territory Coordinator, which Labor voted down in the March sittings would have triggered a major change to how the Territory does business – a change that would empower an independent team to fast-track, facilitate and make decisions on much-needed private sector investment.
“How can our economy ever rebound if we’re ranked dead last on six of the eight key economic indicators including; retail spending, the job market, construction work, population growth, housing finance and dwelling starts – which are all important measures of a successful economy?” said Ms Finocchiaro.