Territory Stories

Budget papers 2008 - 2009

Details:

Title

Budget papers 2008 - 2009

Other title

2008/09 Budget paper

Creator

Northern Territory. Department of Treasury

Collection

Northern Territory budget papers; Reports; PublicationNT

Date

2008-05-06

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

2008/09

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/10070/244906

Citation address

https://hdl.handle.net/10070/591614

Related items

https://hdl.handle.net/10070/591610; https://hdl.handle.net/10070/591616; https://hdl.handle.net/10070/591612; https://hdl.handle.net/10070/591602; https://hdl.handle.net/10070/591605; https://hdl.handle.net/10070/591607; https://hdl.handle.net/10070/591608

Page content

6 Economy Overview 2008-09 Budget Prices and Wages Darwins CPI increased 2.9 per cent in annual terms in 2007, and 3.4 per cent in year-on-year terms. Strong wages growth, in the Territory and nationally, over the two years to 2007, reflects a tight labour market with skilled labour shortages, especially in construction, mining and health. Some inflationary pressures are expected in the Territory in 2008, largely reflecting continued growth in rents, fuel costs and food prices. Six interest rate rises in the 18 months to March 2008 increased the Australian cash rate to 7.25 per cent, the highest rate since 1994. With the possibility of further rises in 2008, Territory house purchases are expected to moderate. The Reserve Bank of Australias contractionary monetary policy is also expected to dampen consumer demand. e: estimate; f: forecast Source: Northern Territory Treasury, ABS Cat. No. 6401.0 2002 % 2003 % 2004 % 2005 % 2006 % 2007 % Northern Territory Public 3.2 3.7 3.3 4.8 4.4 2.7 Private 3.1 2.6 3.4 4.1 3.5 4.8 Total 3.1 3.1 3.3 4.5 3.9 3.9 Australia Public 3.3 4.4 4.1 4.6 4.3 4.2 Private 3.3 3.3 3.4 3.9 3.9 4.1 Total 3.2 3.6 3.6 4.1 4.0 4.1 Source: ABS Cat. No. 6345.0 Consumer Price Index -1 0 1 2 3 4 5 6 7 99 00 01 02 03 04 05 06 07 08e 09f Darwin (quarterly) 8 Capitals (quarterly) Darwin (year on year) 8 Capitals (year on year) % Year ended December Wage Price Index (year-on-year to December 2007, percentage change)