Territory Stories

Budget Paper No.6 1997/98 Northern Territory Economy

Details:

Title

Budget Paper No.6 1997/98 Northern Territory Economy

Other title

Tabled Paper 3223

Collection

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

Date

1997-04-30

Notes

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.

Language

English

Subject

Tabled papers

File type

application/pdf

Use

Copyright

Copyright owner

See publication

License

https://www.legislation.gov.au/Series/C1968A00063

Parent handle

https://hdl.handle.net/10070/289257

Citation address

https://hdl.handle.net/10070/404114

Page content

Public Sector Outlook The Commonwealth Government is committed to fiscal consolidation and plans to reduce the underlying budget deficit to $3.5 billion by 1997-98, down from $9.3 billion in 1996-97. A key part of this objective is the elimination of duplication between the Federal and State Governments. This will undoubtedly have some impact on Territory and Commonwealth employment and expenditure, as evidenced by the reduction of Commonwealth employees during 1996-97, but the Federal Governments commitment to continue the process of moving defence personnel to the Territory should help to offset the effects of budgetary cut-backs in other areas. The Territory Government has in place a fiscal strategy which underpins financial and economic management. Key objectives of the fiscal strategy are to constrain real current expenditure growth in per capita terms; to maintain the Territorys revenue raising relative to the States; and to control debt levels and debt servicing costs. However, the strategy also recognises the Governments role in ensuring that infrastructure investment is sufficient to support economic and social development requirements. 0 200 400 600 800 1 000 1 200 1 400 1 600 1991-92 1992-93 1993-94 1994-95 1995-96 1996-97 Capital Recurrent Source: ABS Cat. No. 5501.0 $ million Real Public ExpenditureFigure 15.2 Public Sector 89

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