Budget Repair
Consultation has concluded
The Northern Territory Budget needs to be repaired.
In August 2016, the Pre-election Fiscal Outlook showed the budget was $867 million in deficit.1
In November 2018, legislation passed the Federal Parliament that locked in more than $500 million a year in GST cuts to the Territory's budget.2
Recently additional investments have been made to stimulate the economy during the wind down of the INPEX construction phase.3
To ensure the budget is sustainable in these challenging times, the Northern Territory Government has commissioned former West Australian Under Treasurer Mr John Langoulant to provide a report that paves a way forward for responsible budget repair. The interim report was released by the NT Government on 14 December 2018 so that Territorians could see the extent of the issues.
Territorians have the right to know the facts behind why Budget repair is needed.
1 2016 PEFO Independent Budget assessment conducted by NT Treasury
2 A Plan for Budget Repair - Interim Report (pg 10)
3 A Plan for Budget Repair - Interim Report (pg 5)
To view the outcome of the public consultations, please visit Treasury website.
