Leader of the Opposition, Lia Finocchiaro, says the Gunner Government’s shameful economic
mismanagement has led to the Northern Territory notching up the unenviable title of the
nation’s worst performing economy – for the eleventh consecutive quarter.
“The NT is ranked dead last on six of the eight key economic indicators, according to the latest
CommSec State of the States report. We lag all other states and territories on economic
growth, retail spending, equipment investment, construction work, housing finance and
dwelling starts.
“Labor can’t pull the wool over the eyes of Territorians any more with slogans like ‘comeback
capital’ which means absolutely nothing when the results speak for themselves.
“One of the few bright spots in this report, which is compiled by independent economists, is
an improvement in annual construction work for the NT. This is purely because of the
Coalition Government’s generous home builder scheme. Canberra is also propping up our
ailing economy with Commonwealth Defence projects such as upgrades at Larrakeyah
Barracks and RAAF Base Tindal.
“Once again, the Territory is relying on the Federal Government to rescue us from the
economic doldrums. The Chief Minister should not be patting himself on the back over these
numbers.
“Labor has been spruiking its so-called economic ‘green shoots’ since late 2019. The Gunner
Government’s favourite fairy tale to tell Territorians is that it’s creating ‘jobs, jobs, jobs’ but
the reality is, none of the major projects inherited from the CLP – including Project Sea Dragon
– have been delivered, only one mine has moved from exploration to production in the past
five years and the latest budget predicts a reduction in mining royalties.
“We are hurtling towards more than $9 billion in net debt which the Gunner Government has
racked up through reckless spending over the past five years it has been in power. Three token
‘commissioners’, collectively taking home around $1 million in salaries, and meaningless catch
phrases won’t keep Territorians in jobs or grow our economy.
“The only way to fix our economy, pay back our debt and keep Territorians in jobs is to unleash
our economy from the shackles of the Gunner Government – whose track record is stifling
growth,” said Ms Finocchiaro.
ENDS