Territory Stories

Budget papers 2010 - 2011

Details:

Title

Budget papers 2010 - 2011

Other title

2010/11 Budget paper

Creator

Northern Territory. Department of Treasury

Collection

Northern Territory budget papers; Reports; PublicationNT

Date

2010-05-04

Notes

Made available via the Publications (Legal Deposit) Act 2004 (NT).

Language

English

Subject

Appropriations and expenditures; Periodicals; Budget; Finance, Public

Publisher name

Northern Territory Government

Place of publication

Darwin

Volume

2010/11

File type

application/pdf

Use

Attribution International 4.0 (CC BY 4.0)

Copyright owner

Northern Territory Government

License

https://creativecommons.org/licenses/by/4.0/

Parent handle

https://hdl.handle.net/10070/244913

Citation address

https://hdl.handle.net/10070/591565

Related items

https://hdl.handle.net/10070/591566; https://hdl.handle.net/10070/591568; https://hdl.handle.net/10070/591570; https://hdl.handle.net/10070/591556; https://hdl.handle.net/10070/591558; https://hdl.handle.net/10070/591560; https://hdl.handle.net/10070/591562

Page content

3Budget at a Glance Working Future Working Future is a targeted strategy to improve the lives of Territorians living in remote areas, closely linked to the COAG National Indigenous Reform Agreement. The initial focus of the policy is the development of Territory Growth Towns, 20 of the Territorys biggest and most strategically placed communities, into regional commercial centres and hubs for the delivery of government services for residents of the Growth Towns and associated outstations/homelands. Some of the key highlights of Working Future in 2010-11 include: $715.8M for remote Indigenous housing and related infrastructure; $75.3M for additional police and new police stations; $73.9M to upgrade and improve transport infrastructure and services; and $73.8M for Indigenous essential services. Total Infrastructure Payments 2009-10 2010-11 Program Cash Program Cash $M $M $M $M Budget Sector Capital Works 1 591 749 1 776 995 Grants 142 179 Repairs and Maintenance 186 198 Infrastructure-Related 8 8 Total Budget Sector 1 085 1 380 Power and Water Corporation Capital Works 366 379 Repairs and Maintenance 54 58 Total Power and Water Corporation 420 437 Total Infrastructure 1 505 1 817 Key Economic Outcomes The Territory economy slowed during 2009-10, due to the effect of the GFC, with estimated economic growth of 0.4 per cent. However, for 2010-11 the economy is forecast to grow by 3.6 per cent reflecting the benefits of a strengthening international trade surplus and further growth in public investment. In addition, employment and population growth are expected to remain strong for 2010-11 with 2.5 per cent growth forecast for resident employment and 2.1 per cent for population. CPI is also expected to moderate at 3.1 per cent. The table below sets out actual outcomes for 2005-06 to 2008-09, an estimate for 2009-10 and forecast for 2010-11 for key economic indicators. 2005-06 Actual 2006-07 Actual 2007-08 Actual 2008-09 Actual 2009-10 Estimate 2010-11 Forecast % % % % % % Real GSP 6.7 6.7 3.9 2.6 0.4 3.6 Resident Employment 3.2 5.1 5.9 4.2 3.3 2.5 Population1 2.3 1.9 2.4 2.4 2.2 2.1 Darwin CPI2 2.6 4.4 3.4 4.0 2.8 3.1 1 As at December, annual percentage change. 2 As at December, year-on-year percentage change. Fiscal Position The Territorys fiscal strategy remains unchanged from that adopted in the 2009-10 Budget. The strategy in the short term is to invest significantly in infrastructure in order to stimulate the Territory economy and protect jobs. The growth in operational spending has been limited through a number of budget improvement measures, including a public sector staffing cap and reprioritisation of 2 per cent of agencies output appropriation to fund demand growth and new and expanded initiatives. The Territory will incur cash deficits as a result of higher infrastructure investment, however once revenue streams and economic growth normalise, the medium-term strategy is to return the budget to a surplus position. Infrastructure The $1.8 billion infrastructure expenditure is 40 per cent higher than 2009-10 and more than double 2008-09. Cash Allocations to Infrastructure since 2001 0 200 400 600 800 1000 1200 1400 1600 1800 2000 01-02 02-03 03-04 04-05 05-06 06-07 07-08 08-09 09-10 10-11 $M


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