LIA FINOCCHIARO MLA
LEADER of the Opposition
Leader of the Opposition
State of the States Report reinforces poor economic picture pre COVID-19 and Territory population decline
Today’s Commsec State of the States Report reinforces a poor economic picture for the Northern Territory, especially in population decline. This is unsurprising given the bad economic management of the Gunner Government over three and a half years. If people don’t see opportunity, they won’t come to the Territory and sadly many will be forced to leave, Opposition Leader Lia Finocchiaro said today.
“One of the most worrying indicators is population, where the Territory is down 163 per cent over the decade average. It’s a sad indication that under the Gunner Government, people aren’t seeing opportunities to live and work in the Territory,” Mrs Finocchiaro said.
Other poor indicators include: Unemployment up nearly 34 per cent, well above the decade average. The Territory is the worst in home finance with home loan commitments down 4.8 per cent on a year ago. Dwelling starts were 63 per cent below the decade average. Construction work is down a whopping 36 percent on a year ago. Retail spending is down one percent on the decade average, the worst result of all jurisdictions.
“Following the economic high experienced last decade, the Gunner Government has failed to keep the Territory economy on track with long-term solutions to make the Territory an attractive place to live, work and grow businesses,” Mrs Finocchiaro said.
“The Gunner Government can’t cover its tracks with the billions of economic stimulus spent by the Federal Government to temper the COVID-19 crisis. Its economic record is terrible shown by the latest data in this report.
“We have consistently had the worst performing economy in the nation and Territorians are sick of it. We don’t deserve to be last, we deserve to be first, but we have a Government with no drive, no vision and no capability to deliver.
“The Gunner Government is not the team to lead the Territory out of the economic and fiscal crisis. They are the people who created it. Only a CLP Government will understand the need for private sector investment and will drive it rather than block it, like we have seen the Gunner Government do with Dan Murphy’s,” Mrs Finocchiaro concluded.