Leader of the Opposition, Lia Finocchiaro, says the Chief Minister needs to take responsibility for crippling the NT economy, after the Territory was ranked dead last for the twelfth consecutive quarter, according to independent economists.
“CommSec’s State of the State’s report ranks the Northern Territory the worst performing economy for five of the eight key economic indicators; including economic growth, retail spending, equipment investment, construction work, and dwelling starts.
“In just five years, with Michael Gunner at the helm, NT Labor has plunged the Territory into $9 billion worth of net debt. The NT’s economy was deep in the red well before COVID arrived.
“The cost of living for Territorians has gone through the roof, with Darwin’s inflation rate the highest in the nation compared will all other capital cities, jumping to 6.1% in the June quarter. That means Territorians are forced to pay more for things like groceries, rent, and family activities.
“While relative population growth is a rare bright spot, up 0.48% annually, the Gunner Government shouldn’t be patting itself on the back. Labor has done nothing to attract and retain workers in the Territory. Michael Gunner scrapped the First Homebuyers scheme, he doesn’t care that the police attrition rate doubled in the past 12 months, and has imposed an additional barrier for the recruitment of nurses and teachers with his wage freeze.
“When an economy has been obliterated like the Territory’s has under Labor, crime goes up, businesses close and people leave. It erodes our unique Territory lifestyle.
“The CLP has a plan to kick start the economy Labor has destroyed with mountains of red tape and private investment barriers, three Commissioners with no legislative powers and no teeth – which are costing taxpayers more than a million dollars annually just in salaries.
“We would attract private investment with an Approvals Fast-Track Taskforce, the establishment of a Territory Coordinator to facilitate private investment and reform the way projects of economic significance are supported, and move away from Labor’s complicated hybrid mining tax model and implement an ad valorem royalty system to give certainty to the mining industry,” said Mrs Finocchiaro.
ENDS