Leader of the Opposition, Lia Finocchiaro, says the Federal Government is plugging the cavernous fiscal gaps in the Territory’s economy, due to Labor’s economic mismanagement, with a significant infrastructure, roads, and defence spend in Budget 2022-23.
“The Morrison Coalition Government can see the Northern Territory’s abysmal economic position, under the Gunner Labor Government, and is committing $5.5 billion in funding to the NT over the next financial year.
“Key commitments include a $2.6 billion funding injection in Territory infrastructure projects, which will spur economic growth and create jobs. The Federal Government is investing $1.5 billion for new port infrastructure, including a wharf and offloading facility at the Port of Darwin, and $440 million to construct new logistics hubs in Alice Springs, Katherine and Tennant Creek.
“We welcome the Federal Government’s plan to expand the Territory’s military capability with 1,000 additional troops. I have actively lobbied for more boots on the ground, most recently in my meeting with Minister Dutton just a few weeks ago – and the Coalition has delivered.
“This is a great outcome and a tangible boost for our economy. An extra 1,000 defence workers and their families translates to around 4,000 additional Territorians. That means more people shopping local, more people buying houses, more kids in schools and in local sport.
“The Territory will experience real population growth, at a time when NT Labor’s policy failures around the economy, crime, health, education and housing has contributed to a decline in the Territory’s population.
“Addressing cost of living pressures is a key focus of this Federal budget and provides Territorians a much-needed reprieve, given Darwin has the highest inflation rate of any capital city, courtesy of the Gunner Government.
“For the next six months, Territorians will save 22 cents a litre every time they fill up their car with a cut in fuel excise – which will flow through to the bowser over the next two weeks.
“There’s a one-off $420 cost of living tax offset for low and middle income earners, here in the Territory, which means individuals can expect $1,500 back at tax-time, while couples could get up to $3,000.
“Pensioners, carers, veterans, job seekers, eligible self-funded retirees and concession card holders will benefit from a new one-off $250 Cost of Living Payment.
“The Feds are committing almost $340 million in additional funds for crucial road infrastructure including: $132 million for the Central Australian Tourism Roads project, $55 million for the Tiger Brennan Drive/Berrimah Road intersection upgrade, and $50 million for the Alice Springs to Halls Creek corridor upgrade.
“Health and hospital funding in the Territory will get a $562 million boost, including $9.9 million for the COVID-19 health response. The Federal budget also includes a $10.7 million boost for frontline domestic violence services in the NT, and a substantial new women’s health package, with stillbirth and miscarriage support, the establishment of new endometriosis clinics and greater access to breast and cervical cancer screenings.
“The NT’s education and skills sector will receive close to $490 million, which includes $2.4 million for the JobTrainer Fund and an additional $500,000 to provide extra low and fee-free training places in aged care courses, while $18 million will support universal access to at least 15 hours of preschool each week for children in the year before they start school.
“The Territory’s GST payments will increase to an estimated $3.7 billion, which is up more than $372 million (11%) from the last financial year, and up more than $900 million (32%) since 2013-14.
“This will come as a welcome relief for the broke Gunner Labor Government which relies so heavily on funding injections from the Feds. In Question Time today, the Chief Minister admitted: “We are a jurisdiction that requires the Australia Government because we do not have a large enough revenue base”.
“The sad irony is, Michael Gunner doesn’t understand that his government, through its failure to cut red tape, failure to attract private investment, and failure to generate population growth, is the reason our economy is such a dire state. “It’s great to see the Morrison Coalition government getting on with the job of growing the Territory and building a stronger future, a job the incompetent Gunner Labor Government is incapable of doing,” said Mrs Finocchiaro.
ENDS