Territory Stories

Budget Paper No.2 Fiscal and Economic Outlook 2008-2009

Details:

Title

Budget Paper No.2 Fiscal and Economic Outlook 2008-2009

Other title

Tabled paper 1293

Collection

Tabled papers for 10th Assembly 2005 - 2008; Tabled papers; ParliamentNT

Date

2008-05-06

Description

Tabled By Delia Lawrie

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/10070/283912

Citation address

https://hdl.handle.net/10070/410393

Page content

2008-09 Budget 10 Fiscal Position and Outlook Consistent with other aggregates, the cash targets continue to improve in all forward years, culminating in a projected surplus of $50 million for 2011-12. For 2007-08, after a contribution of $20 million towards future infrastructure and superannuation requirements, an underlying cash surplus of $5 million is predicted, an improvement on the $40 million deficit projected in May 2007. All other years also show an improved position. Net debt has also improved since the 2007-08 Budget and is now expected to peak in 2010-11 at $1687 million before reducing to $1676 million in 2011-12. The increase through to 2010-11 is largely due to the significant investment of around $1 billion in capital by the Power and Water Corporation in new and upgraded infrastructure. Despite this increase in absolute terms, when measured as a proportion of revenue, the ratio remains largely constant at between 36 to 38 per cent. Net debt plus employee liabilities for the non financial public sector is set to increase to $4663 million in 2011-12. When measured as a proportion of revenue, the ratio is still expected to improve over the forward estimate period from 106 per cent in 2008-09 to 101 per cent in 2011-12. Table 2.2 sets out the variations in general government estimates for 2007-08 and 2008-09 since the May 2007 Budget. 2007-08 Estimate 2008-09 Budget $M $M Operating Result 2007-08 Budget 29 8 2008-09 Budget 81 111 Variation 52 103 Fiscal Balance 2007-08 Budget - 96 - 41 2008-09 Budget - 67 - 81 Variation 29 - 40 Cash Outcome 2007-08 Budget - 40 0 2008-09 Budget 5 9 Variation 45 9 Source: Northern Territory Treasury Table 2.2: Operating and Cash Flow Statements General Government


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