NT Government Sinks Under Spending, Debt

The Territory Opposition will spend this week in Parliament forensically examining how the Labor Government managed to blow a $330 million windfall in just one year.

“This Government's financial performance is the equivalent of winning the lottery and frittering it away on baubles,” says Terry Mills, Leader of the Opposition.

“With Territory taxpayers carrying a $1 billion debt, before calculating unfunded superannuation liabilities, an excellent opportunity to ease the debt burden on future generations has been lost.

“As a consequence of making inconsequential inroads into the Territory’s debt levels every man, woman and child in the Territory owes $4761. By way of comparison each Victorian owes just $460.

“Had the Territory Government been better budget managers that $330 million could have put an additional 100 police on the streets right now, made our teachers the best paid in the land and still shaved a respectable amount from our debt.

“This wasteful Government lacks the discipline to save whilst the economic sun in shining.

“Ordinary Territorians will be the ones to suffer when the rain comes.”

2008-06-15