NT Economic Reconstruction Commission gears up for public input

TERMS of reference are expected to be issued at the end of next week for public submissions to the Territory’s Economic Reconstruction Commission

Mick Dodson, Paul Henderson and Gary Higgins, members of the Territory Economic Reconstruction Commission, pictured here in Cullen Bay, Darwin. Picture: Che Chorley

TERMS of reference are expected to be issued at the end of next week for public submissions to the Territory’s Economic Reconstruction Commission.

Co-chair Paul Henderson confirmed the commission would meet with Team Territory to agree on the terms of reference. Team Territory members are tasked with advising the Reconstruction Commission on its work.

“We will be calling for public submissions and industry group submissions,” Mr Henderson said. Consultations through that process will open for three weeks.

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“We are looking forward to seeing what ideas people have to get the Territory economy running again.

“The task set is 5 per cent GDP growth per year for the next 10 years, taking this economy from a $6 billion economy to a $40 billion economy and thousands and thousands of extra jobs.

“That is where submissions should be focused and we urge people to have input.

“Government is running out of the ability to spend its way out of this problem and we need to attract private sector investment and private sector investment that is going to create jobs. That is what I am really looking for. It’s where do we have a competitive advantage and can we leverage that competitive advantage to attract private sector investment and create jobs across the NT.

“We are very conscious that this is not just a Darwin Palmerston issue this is right across the breadth of the Territory and Aboriginal people have to be front and centre.”

Mr Henderson said the Chief Minister has explicitly put on the table tax incentives that could give the Territory an edge attracting the private sector

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“I understand the relationship with the Commonwealth, and fiscal relations,” Mr Henderson said.

“We have to be bold. At the end of the day tax is on the table.”