Territory Stories

February 2008 report to the Legislative Assembly

Details:

Title

February 2008 report to the Legislative Assembly

Collection

Report to the Legislative Assembly; Reports; PublicationNT

Date

2008

Description

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

Notes

Date:2008-02

Language

English

Subject

Northern Territory. Auditor-General's Office -- Periodicals; Finance, Public -- Northern Territory -- Accounting -- Periodicals; Northern Territory -- Appropriations and expenditures -- Periodicals

Publisher name

Northern Territory Auditor-General's Office

Place of publication

Darwin

ISSN

1323-7128

Copyright owner

Check within Publication or with content Publisher.

Parent handle

https://hdl.handle.net/10070/223559

Citation address

https://hdl.handle.net/10070/686148

Page content

24 Auditor-General for the Northern Territory February 2008 Report Analysis of the Treasurers Annual Financial Statement cont The size of the GST pool has continued to grow in line with the growth in overall economic activity in Australia. However it is possible that at some point in the future that rate of growth may slow with the result that the amount of GST available for distribution to the States will plateau. At the same time, the recent strong growth of the Territorys own economy with a consequent growth in own source revenues represents an increase in the Territorys fiscal capacity. An increase in fiscal capacity relative to other jurisdictions may result in a downward revision of the relativity that applies to the Territory for the distribution of GST revenues. A combination of a slowing in the rate of growth of the size of the GST pool, coupled with a deteriorating GST relativity in the case of the Territory would see a tightening of the level of revenue received from the Commonwealth. This suggests that continuing control over expenditure is essential to the maintenance of a sustainable public sector and the achievement of a sound financial position.