Budget Paper No.2 Fiscal and Economic Outlook 2008-2009
Tabled paper 1293
Tabled papers for 10th Assembly 2005 - 2008; Tabled Papers for 10th Assembly 2005 - 2008; Tabled papers; ParliamentNT; Tabled Papers
Tabled By Delia Lawrie
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.
2008-09 Budget 30 Fiscal Strategy When compared with other jurisdictions, Table 3.4 shows the Territorys fiscal balance to revenue ratio is projected to be marginally better than the average of the other jurisdictions in all years. 2006-07 Actual 2007-08 Estimate 2008-09 Budget % % % New South Wales - 2.2 - 2.9 - 2.9 Victoria - 0.7 - 1.4 - 2.3 Queensland - 0.7 - 9.9 - 9.4 South Australia - 0.2 - 3.2 - 2.8 Western Australia 8.8 2.6 2.2 Tasmania 1.3 3.2 3.6 Australian Capital Territory 0.3 - 3.4 1.6 State Average 0.0 - 3.3 - 3.3 Northern Territory 1.9 - 1.8 - 2.1 Source: Northern Territory Treasury and state budget, mid-year and outcome reports When considering levels of capital investment, in the Territory view it is more appropriate to use the non financial public sector as this better reflects the complete picture of Government spending on infrastructure projects. Table 3.5 below presents the estimates for capital investment for 2007-08 to 2011-12. The Governments capital investment comprises purchases of non financial assets (including construction and capital items), assets acquired under finance leases (including the Darwin Convention Centre) and capital grants to non-government organisations. It excludes repairs and maintenance. Projected strong operating surpluses have been utilised to support record capital investment in all forward years. The increase in levels of capital investment since May 2007 is mainly a result of additional infrastructure requirements for remote areas of the Territory. This includes the increased commitment to remote Indigenous housing and continued additions to core service infrastructure, including by the Power and Water Corporation, which will be investing about $1 billion between 2008-09 and 2011-12 in infrastructure for the essential services of electricity, sewerage and water. 2007-08 2008-09 2009-10 2010-11 2011-12 Estimate Budget Forward Estimates $M $M $M $M $M Purchases of non financial assets 533 662 637 631 570 Assets acquired under finance lease 33 Capital grants 104 99 123 117 120 Total 670 761 760 748 690 Source: Northern Territory Treasury Table 3.4: State and Territory Fiscal Balance as a Proportion of Revenue General Government Table 3.5: Capital Investment Non Financial Public Sector