Territory Stories

Budget 2013/14 Northern Territory Economy



Budget 2013/14 Northern Territory Economy

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Tabled paper 295


Tabled papers for 12th Assembly 2012 - 2016; Tabled papers; ParliamentNT




Tabled by David Tollner


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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Department of the Treasury and Finance

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Glossary 205 Northern Territory Economy Glossary An always on internet connection that has an access speed equal to or greater than 256 kilobits per second (kbps). Broadband has the capacity to accommodate audio, video and data channels simultaneously. A general indicator of the prices paid by household consumers for a specific basket of goods and services in one period, relative to the cost of the same basket in a base period. The value of purchases of goods and services for consumption by households and government. Excludes the purchases of fixed assets, intermediate goods or the additions to inventories. Intermediate goods are those used as inputs for making other goods. Persons 15 years and older who worked for one hour or more in the week as measured by the Labour Force Survey. The percentage of the working age population (15 years or above) currently employed. The official Australian Bureau of Statistics population measure that represents the proportion that resides in a defined locality for more than six months of the year and for a period of at least 12 out of 16 consecutive months. The monetary union of 17 European Union member states that adopted the euro as their common currency. An economic and political union of 27 member states that are located primarily in Europe. In July 2000, the Commonwealth introduced a 10 per cent tax on goods and services (GST), replacing the previous wholesale sales tax regime. Some items such as basic food, health, education and exports are GST-free. The total value of goods and services produced in Australia over the period for final consumption. Intermediate goods, or those used in the production of other goods, are excluded. Gross domestic product can be calculated by summing total output, total income or total expenditure. Similar to gross domestic product, except it measures the total value of goods and services produced in a state or territory. It is the sum of all income, namely, wages, salaries and profits, plus indirect taxes less subsidies. It can also be calculated by measuring expenditure, where it is the sum of state final demand and international and interstate trade, changes in the level of stocks, and a balancing item. Inflation adjusted measures provide estimates of real change by factoring in changing price relativities from year to year. Broadband Consumer Price Index Consumption Expenditure Employed Employment Rate Estimated Resident Population Euro Area European Union Goods and Services Tax Gross Domestic Product Gross State Product Inflation Adjusted