Territory Stories

Budget 2012-2013 Budget Paper No.1 Speech

Details:

Title

Budget 2012-2013 Budget Paper No.1 Speech

Other title

Tabled paper 1783

Collection

Tabled papers for 11th Assembly 2008 - 2012; Tabled papers; ParliamentNT

Date

2012-05-01

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/Details/C2019C00042

Parent handle

https://hdl.handle.net/10070/277291

Citation address

https://hdl.handle.net/10070/424032

Page content

1 Speech Introduction Madam Speaker, I move that the Bill be now read a second time. I table the 201213 Appropriation Bill and related papers. Budget2012 ensures the Territory will maximise benefits from the most significant growth in our history. It builds on the investment the Henderson Government has made to secure the Territorys economic and social futurea future that is very bright. Budget2012 is gearing up for growth and supporting Territory families. The Henderson Government is committed to the twin goals of building a strong, prosperous economy and providing quality services across the Territoryensuring that all Territorians benefit. We have supported the Territory economy through a lull in private investment, with significant additional infrastructure investment to protect jobs and sustain Territory businesses. We have taken a deliberate decision to carry the deficit so that Territorians would be cushioned from the most severe effects of the global financial crisis (GFC). The Territorys economy is now set to boom on the back of the Henderson Governments determined efforts to attract major projects to the Territory and to build a diverse and resilient economy. We have delivered the INPEX project, with the final investment decision announced on 13 January 2012the second largest private sector investment in Australias history. Work has also commenced on the Marine Supply Base that will become the supply and service hub for the oil and gas industry in NorthernAustralia and the region. These projects will underpin our economy for decades and provide firstclass jobs for Territorians and opportunities for local businesses. With these major projects underway, it is time to begin a staged reduction in the Governments significant investment in infrastructure. This will be done responsibly, over the next two to three years, to ensure work continues across our construction sector while major projects pick up. Importantly, our commitment to continuing investment in our regions will not diminish. Since the beginning of the GFC, the Henderson Governments infrastructure spending has almost doubled from $900million in 200809 to $1.7billion in 201011 and $1.6billion in 201112. In Budget2012, infrastructure spending is slightly lower at $1.3billion, but still higher than preGFC levels, making room for growth in private sector investment. The reduction in infrastructure spending continues over the forward estimates and will allow us to step out of deficit in a managed way. Budget2012 is a responsible Budget. Even though GST revenue has


Aboriginal and Torres Strait Islander people are advised that this website may contain the names, voices and images of people who have died, as well as other culturally sensitive content. Please be aware that some collection items may use outdated phrases or words which reflect the attitude of the creator at the time, and are now considered offensive.

We use temporary cookies on this site to provide functionality.
By continuing to use this site without changing your settings, you consent to our use of cookies.