Why next Government’s first 100 days will decide the Northern Territory’s future

THE Property Council Northern Territory Division says the first 100 days of the next NT Government will determine the Territory’s economic future

Executive Director of the Property Council of Australia Ruth Palmer out front of the Eco Cafe with the recent installation of the Cooling and Revitalising Pop-Up Project, which will be around the Darwin CBD, Picture: Justin Kennedy

• No fixing financial mess without genuine public service reform

THE Property Council Northern Territory Division says the first 100 days of the next NT Government will determine the Territory’s economic future.

The Council’s NT chief executive officer Ruth Palmer said with the Territory’s current debt level, economic reforms are the main economic tool available to achieve economic recovery.

Ms Palmer also warned that if the Territory doesn’t achieve economic results the Federal Government may take away its right to self-govern. She said all recommendations under the Langoulant Report, A plan for budget repair should be implemented and a strong culture of budgetary discipline and responsible fiscal management developed.

Her comments come just a week after Territory Public servants received a 2.5 per cent pay increase, increasing the Territory’s wage bill by $55 million and going against financial consultant John Langoulant’s report recommendation.

“The Property Council Northern Territory Division believes that on the first of December 2020 (100 days), we will know our economic future,” she said.

“With limited time and resources, a future Northern Territory Government must carefully determine its economic reform priorities.

“Come August 22 there will not be any time for a honeymoon period for a future Northern Territory Government.

“Instead if we don’t achieve real economic results in the First 100 Days, there is only the terrifying prospect for the Northern Territory of a divorce from self-government by the National Government.”

Ms Palmer laid out eight potential priorities for a future Northern Territory Government:

• Implement Marco Economic Policies that create a diversified and sustainable economy: The keystone reform being around the introduction of a resource and energy retention and reservation policy framework.
• Implement a Population Strategy based around job opportunity and lifestyle: With Boundless Possible being no longer possible due to its campaign termination, the Territory needs new strategies to promote and achieve both migration and immigration population growth. Job creation is the key incentive to population growth.
• Work with the Federal Government and deliver reforms to achieve Developing the North: With increasing strategic and geopolitical importance of the North to the future of Australia, it is in Australia’s best interest to have an economically robust Northern Territory.
• Implement taxation reforms to attract and create new industries and jobs: Create a globally competitive taxation environment that attracts and retains industries.
• Implement all recommendations of Langoulant Report, A plan for budget repair: Develop a strong culture of budgetary discipline and responsible fiscal management built upon imperial evidence and results.
• Implement the 30-day approval time frames for straight forward business applications: A good concept that emerged from the Territory Economic Reconstruction commission’s first report and needs implementation.
• Implement the recommendations from the Territory Economic Reconstruction Commission: With the final report due in November there will be little time to enact the necessary macroeconomic policy reforms identified by the Commission within the 100 days.
• Change the “Culture” of the Northern Territory Public Service: Introduce new Key Performance Indicators (KPI) managed and enforced by the relevant Minister all executive level positions to support and facilitate real cultural change.