Report to be referred to the Public Accounts Committee

17 December 2018

The CLP Opposition will refer Labor’s interim budget repair report to the Public Accounts Committee.

On Friday, the Government released its independent assessment of the NT’s fiscal position which predicted NT debt at $35.7 billion by 2029/30.

Deputy Opposition Leader Lia Finocchiaro said the report was a damning indictment of Labor’s lack of business sense and ability to keep the Territory solvent.

"This is a terrifying report and needs to be examined closely," Mrs Finocchiaro said. "We want to make sure there is a forensic look at the terrible state of the Territory finances.

"The Treasurer only this morning revealed the report’s authors included senior public servants, as well as experts John Langoulant and Helen Silver.

"We want to ensure the report is examined and its conclusions are not in any way hiding a situation that may be even worse than reported. We also want Parliament to know that everything has been examined by the authors and review all evidence relied on."

Mrs Finocchiaro said the Labor Government was handed a robust economy when they took over two years ago.

"In 2016, when they came to power they were handed:

• A budget that was on track to surplus

• An onshore gas industry that had commenced exploration

• Significant projects that help diversify the economy – Jemena pipeline, Ship Lift including the Marine Industry Park, Project Sea Dragon and Luxury Hotel in Darwin.

"They have done nothing to grow the economy and now, instead of leading, they are crying out to Territorians for help," she said.