Territory Stories

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



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

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Tabled paper 1293


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




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.




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5 Overview This Budget Paper presents whole of government financial information and related issues and consolidates information from other Budget Papers. It also meets the requirements of the Fiscal Integrity and Transparency Act (FITA) and complies with the Uniform Presentation Framework, as agreed by all Australian jurisdictions. Fiscal highlights in the 2008-09 Budget include: significant operating surpluses predicted for 2007-08 and all forward years; improved fiscal balances trending towards a surplus of $6 million by 2011-12; cash surpluses predicted for all years, building on the five successive surpluses achieved to 2006-07; new and expanded expenditure and revenue initiatives, including funding of $286 million over five years to implement Closing the Gap; $20 million contribution in 2007-08 towards the Territorys future infrastructure and superannuation liabilities; record level of infrastructure investment in 2008-09 of $870 million; net debt to revenue ratio to fall to 36 per cent by 2011-12, compared to 67 per cent in 2001-02; and net debt plus employee liabilities to revenue ratio to fall to 101 per cent by 2011-12, against 134 per cent in 2001-02. Tables 1.1 and 1.2 present the Territorys key aggregates at the time of the 2007-08 Budget and the 2008-09 Budget. 2007-08 2008-09 2009-10 2010-11 2011-12 Estimate Budget Forward Estimates $M $M $M $M $M Operating Result 2007-08 Budget 29 8 15 38 na 2008-09 Budget 81 111 174 170 163 Fiscal Balance 2007-08 Budget - 96 - 41 - 32 - 10 na 2008-09 Budget - 67 - 81 - 47 - 31 6 Cash Outcome 2007-08 Budget - 40 0 17 34 na 2008-09 Budget 5 9 21 37 50 Source: Northern Territory Treasury Chapter 1 Fiscal Position and Outlook Table 1.1: Estimated Outcomes General Government

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