Push for NT Govt to spend hard and save businesses from economic disaster

THE NT Government and the Territory business community are united – “go hard and go early” to save the business community from total economic disaster.

Master Builders CEO Dave Malone and other Territory business people said the NT Government and industry needed “go hard” to save the business community from total economic disaster.

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THE NT Government and the Territory business community are united – “go hard and go early” to save the business community from total economic disaster.

Across the board peak industry bodies have advised the Chief Minister his Government’s impending coronavirus stimulus package needs to spend strongly.

Master Builders NT chief executive Dave Malone said the reason was fundamental.

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“Just as the health officials are bringing forward the pre-emptive measures to protect the community, in economics by the time you discover you have a problem it is too late to respond to it, you have to be ahead of the game,” Mr Malone said.

“You can’t sit back and wait for things to go wrong. You have to act early.

“If a business goes broke you can’t get that business back.

“We know we entered 2020 off the back of three years of difficult economic times.

“It is about doing three things in our view – supporting the economy by getting cash to spin around; to look at each of the sectors and see what they need; and have a parallel group inside government to work with investors and find out what it takes to get their projects across the line quickly to keep the money flowing in the Territory.

Northern Territory Property Council executive director Ruth Palmer echoed similar sentiments.

“We need to spend strongly and spend harder and get ahead of the game to get through this tough time,” Ms Palmer said.

“We must make sure that we continue to support local, spend local and play local. That messaging needs to be strong.

“A commercial rate relief may assist landlords.

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“Looking at a range of tradie stimulus schemes is also an option, not just for housing but for commercial premises – alfresco and shop fronts etc.”

Acting Chamber of Commerce NT chief executive Greg Ireland said screwdriver-ready projects were a priority.

“These are projects ready to go where we don’t have to dig holes and lay foundations,” Mr Ireland said.

“Getting government projects out the door is critical with everyone doing it tough.”