14 December 2018
The Labor leadership team must take responsibility for plunging the Territory into financial oblivion and resign.
Deputy Opposition Leader Lia Finocchiaro said the government’s interim budget repair report released today is beyond damning.
"Labor has abjectly failed Territorians," Mrs Finocchiaro said. "The report admits the Territory’s current financial position is unsustainable. It shows the government is borrowing on the credit card to pay wages.
"It scarily predicts NT debt at $35.7 billion by 2029/30 and basically shows Labor is condemning future generations of Territorians. The report also shows the Territory will not be able to meet interest payments let alone pay back the debt (p5 and p25).
"Labor blames everyone and everything but themselves. They are responsible for the exorbitant spending which has put us in this completely untenable situation.
"Their own Mid-Year Report said the single biggest reason for the deterioration in the budgetary position is ‘policy changes’ to the tune of $354 million.
"We don’t deny the impact of reduced GST receipts and the movement of the Inpex project into operational phase. But one of the fundamental roles of Government is to manage through the down times, to spend wisely and invest in wealth creation and to incentivise business and investment.
"Instead, Labor has implemented the world’s worst mining tax and an unreasonable property levy, spent widely on consultants, reviews and reports and museums which were shelved and dithered on allowing gas exploration in the Territory.
"They have failed to the job they were voted in to do – they deserve condemnation and the Chief Minister and Treasurer should resign."