NT Govt releases Budget repair plan

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Matt Flynn
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NT Govt releases Budget repair plan

Post by Matt Flynn » Tue Apr 16, 2019 3:42 pm

Government Releases Plan to Fix the Budget - Press Release, April 16 2019

The Territory Labor Government has released its plan to fix the Territory Budget.

The plan consists of two parts:

· The Government’s response to the ‘Plan For Budget Repair: Final Report’ developed by independent former WA under-treasurer John Langoulant

· Immediate savings identified from the Root and Branch review of Government programs

Plan For Budget Repair: Final Report

Of the 76 recommendations contained in the final report:

· Sixty eight have been accepted in full

· Two in part

· Four in principal

· Two were not accepted

Implementation of these measures will reduce Government expenditure by $11.2 billion over 10-years and see the budget return to surplus in 2027/28.

Key recommendations accepted from The Final Report include:

· A pay freeze for politicians and public service executives

· A 10% reduction in executive positions (52 full-time jobs)

· Tough new accountability measures for senior staff and consequences for poor performance

· Cutting red tape to attract private investment and create local jobs

· Selling the Lands Titles Office including the Integrated Land Information System (ILIS)

Root and Branch review

The Root and Branch review of Government programs was designed to ensure expenditure remains focused on the key priorities of:

Creating jobs and attracting investment
Creating generational change which will reduce demand for government services in the medium to long term
Increasing community safety and cohesion
Enhancing transparency and integrity of Government

Savings from this review total $1.4B over 10 years.

The Territory Labor Government is taking action to fix the budget after:

· Inheriting a $876 million deficit from the former CLP Government

· A cut of $500 million annual in GST revenue from the Federal Government (which reduced by a further $88 million in their April budget).

Quotes from Chief Minister Michael Gunner:

"This plan to fix the budget makes the tough decisions needed to ensure we can continue investing in local jobs, generational change and tackling crime.

"The plan protects front line workers like teachers, nurses and police and includes important reforms to maximise the private investment which creates local jobs".

Quotes from Treasurer Nicole Manison:

"Our plan puts Territorians first by making tough decisions in a way that’s fair.

"It makes politicians and senior executives accountable for their financial decisions.

"It ensures much of the heavy lifting is done by cutting the number of executive positions, and freezing politicians and executive pay.

"We’ve made the tough decisions now, so we can continue the investments in education, health and housing that will reduce pressure on the budget in the long term.

"We have not repeated the CLP approach of sacking hundreds of teachers and massive increasing power prices".

For more information on the plan go to https://treasury.nt.gov.au/news/2019/ap ... air-update



ronje
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Re: NT Govt releases Budget repair plan

Post by ronje » Wed Apr 17, 2019 7:08 am

Whenever the family budget finds that its overstretched by cost of living increases, there are only 2 options.


Cut/freeze expenditure AND increase income.

Cutting/freezing expenditure is only a sort term (band-aid) fix as inflation catches up with cuts and community demand for Govt services keeps pushing the appetite for increased spending. Initially cut expenditure where there'll be minimum negative community income. Executive remuneration (everybody thinks executives are overpaid and underworked anyway) is first cab off the rank. Pay cut/freeze plus sack 10% of them.

10% sacked means that there were over 500 of the buggers in the NT Govt.

Cutting red tape is always a good one. Put that in there.

There has to be 2 approaches and the second one is increasing income. Where can the NT Govt get extra annual income?

Only 1 way. Increase annual charges and taxes and introduce new ones.


Need some quick money? Sell off the family jewels. Sell an asset. The NT Lands title office and integrated land info system will do. NLC might buy that (it'd be useful for land claims and working out access deals). NLC has got plenty of money. Might even be good for a loan or two there.

Problem is that an asset sale is simply a 1 off action. No ongoing income from asset sales.

Can't even sell the Port of Darwin. Chinese have control of that although there's some income from it. Lets put up the rent there.
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Ronje

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Re: NT Govt releases Budget repair plan

Post by NinjaFish » Wed Apr 17, 2019 10:11 am

No mention of boat regos and licensing to raise revenue.

Not until after the next election I bet.

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Re: NT Govt releases Budget repair plan

Post by ronje » Thu Apr 18, 2019 6:39 am

Deliberately didn't mention those 2 issues as sources of Govt income, Ninja.

Nor did I mention AFANT funding cutbacks/savings for same reason.

NT fishos have been copping a bit of a hammering in the last couple of years. Didn't want to add to gloom.

Maybe all shift to Qld (up north).

Caught up with Nomad. He's doing OK.
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Re: NT Govt releases Budget repair plan

Post by NinjaFish » Thu Apr 18, 2019 2:08 pm


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