Leader of the Opposition, Lia Finocchiaro, says the Treasurer’s claims she can return the Territory’s economy to surplus in just three short years has been exposed today as an absolute farce.
“Treasurer Eva Lawler today proved her government is all smoke and mirrors when it comes to balancing the budget. The CLP revealed that the Fyles government would have to slash $743 million in government expenditure – which is equivalent to cutting the entire budget of Police, Fire and Emergency Services, plus the entire budget for the Department of Environment, Parks and Water Security.
“The so-called surplus spruiked for 2024-25, which is actually a $17 million deficit, can only be achieved if:
- The Federal Government increases the NT’s GST slice by an additional $469 million, which the Treasurer admitted hasn’t been secured; and
- NT Labor can achieve a $743 million decrease in government expenditure, which is equivalent to slashing the entire budget for Police and the Environment department.
“The Treasurer admitted she can’t balance the budget if the NT’s slice of the GST pie isn’t as big as NT Labor is predicting – despite promising a return to surplus in 2024-25.
“The Treasurer couldn’t point to a single measure to grow own-source revenue which could outpace the current reckless and escalating government spending, with a measly $32 million predicted over four years.
“Mining royalties are due to dip, and the forward estimates don’t include any revenue from gas projects. Labor is hanging its hat on increases to payroll tax, taxes from gambling and MVR, and hoping there will be an improvement in GST.
“Labor has no plan to pull the economy out of $9 billion of debt except to tax Territorians, slash the public sector, and go cap in hand to Canberra.
“You can’t tax and slash your way to prosperity, but that’s exactly what Labor is trying to do because it has completely crippled our economy,” said Mrs Finocchiaro.
ENDS