NT Government’s plan to save $11.2 billion over ten years

NT TREASURER Nicole Manison this morning revealed John Langoulant’s long awaited review of the NT’s fiscal situation and her government’s response to it which is an attempt to save $11.2 billion across the next decade

NT Treasurer Nicole Manison and Chief Minister Michael Gunner have revealed their plan to reduce Territory Government spending.

THE Territory’s debt will peak at $8.8 billion in 2026/27 before a return to surplus is forecast in 2027/28 the government has said.

Treasurer Nicole Manison this morning revealed John Langoulant’s long awaited review of the NT’s fiscal situation and her government’s response to it.

Most of the initiatives are focused at cutting expenditure, but a small number of revenue raising initiatives are mentioned, including the introduction of camping fees.

Territorians can expect to pay more for number plates — the fee for personalised plates will rise to $250.

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A fireworks licensing fee is expected to raise $200,000 a year.

The review made 76 recommendations, 68 of which have been accepted in full, six in principle or in part. Two were rejected.

The government estimates the measures will save $11.2 billion across the next decade.

The Territory will also lobby the Commonwealth to pay back a 41-year old $200 million debt left over from the transition to self government, plus $90 million a year in superannuation liabilities.

Initiatives previously revealed by the NT News include the sacking of 52 highly-paid executives, a freeze on parliamentarian and executive wages and the installation of a debt ceiling.

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Agencies which spend within their budgets will be “rewarded” by being allowed to retain a share of their underspends.

Wage increases for public servants will be capped at $1000 a year, regardless of what they earn. The government has accepted “in principle” a recommendation to “explicitly prohibit” back pay or sign on payments to encourage “timely bargaining resolution”.

The Government has agreed to establish an “Office of Investment”.

Originally published as NT Government’s plan to save $11.2 billion over ten years