The Fyles Labor government took great delight in telling parliament last night that their economic mismanagement had pushed the Territory’s credit card bill up to a record $7.638 billion.
Leader of the Opposition Lia Finocchiaro said the bad result was an improvement from the disastrous track Labor was on, but it was still a terrible statement about their economic credentials.
“It’s embarrassing how delighted the Treasurer was to announce the Territory had been saddled with such an eye-watering level of debt,” she said.
“A closer look at the detail soon reveals how projects have been moved from year to year to put a better spin on the result.
“Two-thirds of the lowered estimates for debt are a result of shifting $242 million of costs from last year into this year.
“The other third is mostly due to increased stamp duty collections from transactions like the sale of Casuarina Square.”
“The false perception of improvement to the bottom line Labor is presenting has in no way come as a result of good economic management,” she said.
“It can’t erase the fact Labor has added nearly $1 billion of debt every year since coming to government.”
ENDS