Election debate: NT Labor pins debt payback on industries

NT Chief Minister Eva Lawler says royalties and revenue from gas and other ­emerging industries will pull the debt-riddled jurisdiction into a surplus within 18 months.

Chief Minister Eva Lawler and Opposition Leader Lia Finocchiaro meet for the Sky News NT leaders debate. Picture: Pema Tamang Pakhrin

Northern Territory Chief Minister Eva Lawler says royalties and revenue from gas and other ­emerging industries will pull the debt-riddled jurisdiction into a surplus within 18 months, when the Labor government could begin to pay down an $11bn debt.

At a leaders’ debate on Sky News Australia on Tuesday, Ms Lawler predicted industry would help pull the NT out of its dire financial circumstances.

This included the Beetaloo sub basin project, the Middle Arm sustainable development precinct and the maritime industry.

The Territory receives $4.87 per person in the GST ­distribution.

However, its oversized public service, its dispersed population and the poor health of many residents means it is expensive to provide government services in the Top End.

Sky News’s Darwin-based northern Australia correspondent Matt Cunningham told the leaders that Tasmania was ­considering raising taxes because its debt had hit $3.5bn, while the NT’s debt was already $11bn.

Then he asked: “What are you going to do to repair a fiscal situation in the Northern Territory that is not sustainable?”

Opposition Leader Lia Finocchiaro said her party, the Country Liberal Party, would not raise taxes if elected on Saturday.

“We will be reducing taxes because we know that to reduce a competitive place to live, work and invest we have to be a place where people can come and have that opportunity,” she said.

“So we are steadfast on reducing payroll tax and we’re committed to making sure we have a competitive edge

“But we do have an enormous debt and I don’t think it’s the time for austerity measures now.

“We’ve been clear that what we need to do is grow the economy.

“Private sector investments is at all times low and we need to boost that.

“In the last eight years we’ve gone from $1.8bn to $11bn and people don’t feel like there’s much to show for it ... we can’t continue this Labor policy of pet projects.”

Ms Lawler said “until we get to a surplus we can’t pay down debt and the CLP we know that will cut, sack and sell they do that, that’s in their DNA but with us it’s about those industries that will provide greater revenue”.

“The onshore oil and gas industry is one we can be very proud of the work that we’ve done,” Ms Lawler said.

“We’ve worked through from an industry where there was a moratorium to doing the report to actually now at the stage where we are about to get gas from the Beetaloo, have the revenue, have those royalties coming through.”