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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




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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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