CLP leader Lia Finocchiaro rolls out party’s economic roadmap for Northern Territory

Opposition Leader Lia Finocchiaro says the NT’s future hinges on mining and she has promised to double the resource sector across the Top End. Here’s what else the CLP boss wants to do.

A future Country Liberal Party Government will focus on growing the mining sector, which presently makes up 40 per cent of the Territory’s revenue.

Addressing a Property Council State of the Union lunch on Monday, Opposition Leader Lia Finocchiaro said the party would amend the regulatory rules applied to the sector.

She said a CLP government would focus on growing the sector.

She said current budget predictions showed a decline in mining revenue.

“We have 350 mines in exploration in the Territory but budget forecasts a decrease in mining royalties across every year of the forward estimates, “ she said.

“That’s a $52m hole.

“We have untouched reserves of the minerals required to produce solar panels and the inputs needed to make batteries for everything from electric lawn mowers to electric cars.

“Imagine a decade where we double the eight operational mines we have now?”

The hybrid tax regimen introduced by the Labor Government would be scrapped and be replaced by an ad valorem royalty system, similar to that used in Western Australia, where a product is taxed according to value.

Opposition Leader Lia Finocchiaro speaks at a State of the Union Property lunch. Picture: Glenn Campbell

“The CLP will absolutely change the way the mining companies are taxed, transitioning to ad valorem to ensure Territorians benefit from every mineral taken out of the ground and business has absolute certainty on what they will pay before they start producing.

“For example, in Western Australia it takes about 286 days for a mine to get an exploration license but here in the Territory, just across the border, it takes over four years.

“That is not okay. It is not competitive and it does not inspire confidence.”

Opposition Leader Lia Finocchiaro says the NT’s mining can be increased. Picture ; Glenn Campbell

She also committed a future CLP government to getting production at Beetaloo Basin and developing an onshore gas industry in the Territory.

“Gas from the Beetaloo is 50 to 60 per cent cleaner than coal and will ease price pressures on the east coast,” she said.

“This gives the Territory an opportunity to be a leader and transition to greener fuel sources of energy production along with all the economic benefits that go with unlocking the Beetaloo.

“Under a CLP government I lead, we will unlock the enormous potential of onshore gas and the royalties that flow.” She said a gas pipeline would be among the infrastructure built at Middle Arm.

A Territory co-ordinator, a position based on the Co-Ordinator General in Queensland, would be established to streamline projects through departments around particular projects, she said.

Ms Finocchiaro said a CLP government would not introduce land taxes and committed to a review of current payroll tax arrangements.

“It’s a complicated, confusing tax and it’s a disincentive to jobs. No business, particularly small and medium businesses should be punished for creating new jobs and we want to really have a serious look at that,” she said.