Leader of the Opposition, Lia Finocchiaro, says real solutions like the CLP’s plan to cut red tape through an Approvals Fast-Track Taskforce, establishing a Territory Coordinator to fast-track private investment, and abolishing Labor’s complicated hybrid mining tax which would be replaced with an ad valorem model needs to be urgently implemented to turn the NT’s economy around.
“The latest State of the States report ranks the NT last. Under Labor, the Territory has had the worst performing economy in the nation for 14 consecutive quarters.
“For the last three and a half years, Michael Gunner has run the NT’s economy into the ground. He’s racked up an $8 billion debt, which is projected to grow to $9 billion next year, with no plan to rein in reckless spending – and Territorians are paying the price.
“Michael Gunner can’t keep ignoring the evidence, like this critical analysis from independent economists, by throwing reports he doesn’t like in the bin.
“CommSec ranks the NT dead last on six of the eight key economic indicators including retail spending, equipment investment, unemployment, construction work, housing finance and dwelling starts. Population growth in the Territory is down close to 140% on the decade average. It’s just not good enough.
“The cost of living pressures are crippling Territorians. Darwin remains the most expensive capital city in the country, with inflation almost double that in Melbourne, Sydney and Adelaide.
“In six years, Michael Gunner has plunged the NT into $8 billion of debt and all he has to show for it is a $12 million grandstand, $35 million in payouts to teenage criminals, a $3 million shadeless shade structure and a $4 million playground.
“Territorians can’t afford to keep paying for the Gunner Governments failures and the time for action is way past due. Territorians deserve better,” said Mrs Finocchiaro.
ENDS