Territory Stories

Budget Paper No.6 1997/98 Northern Territory Economy



Budget Paper No.6 1997/98 Northern Territory Economy

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Tabled Paper 3223


Tabled Papers for 7th Assembly 1994 - 1997; Tabled papers; ParliamentNT




Made available by the Legislative Assembly of the Northern Territory under Standing Order 240. Where copyright subsists with a third party it remains with the original owner and permission may be required to reuse the material.




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for credit cards). The highly competitive market of personal finance continues to provide consumers with a greater degree of flexibility and has assisted in promoting growth in wholesale and retail trade. Outlook Territory wholesale and retail trade and new motor vehicle registrations are expected to record steady growth through 1997-98. Strong population growth, continued low interest rates and high average weekly earnings, coupled with greater flexibility in obtaining credit and further expansion in tourism activity, will underpin further increases in wholesale and retail trade and motor vehicle registrations. The completion of current retail developments will increase the range of retail outlets available to consumers and this is likely to result in higher levels of consumer expenditure. The Northern Territory Governments objectives for the planning and development of Central Darwin for the next 25 years have been set out in two related documents - Central Darwin Planning Concepts and Development Opportunities, and Central Darwin Land Use Objectives. The greater residential component planned for Central Darwin should revitalise its retail activities and increase the demand for retail variety. The Territorys continued fiscal restraint, and the Commonwealths objective to reduce outlays in order to return its budget to surplus, will result in public final consumption growth remaining low during 1997-98. Meanwhile, private sector consumption expenditure in the Territory is expected to grow strongly in 1997-98. Wholesale and Retail Trade 79