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The Northern Territory government has paused talks for a basketball team and related upgrades to the Darwin Convention Centre as well as cracking down on public service travel and consultancies.
And the government is looking to the private sector to deliver “major” investment projects.
The moves are among $200 million in savings the government says is a part of wider efforts to claw back $9 billion in debt inherited from the previous government.
Treasurer Bill Yan says tough decisions are needed to ensure public money is put to good use.
He says burying high-voltage powerlines along corridors in Darwin is on hold, talks with the NBL about a local franchise suspended and, in turn, upgrades to the Darwin Convention Centre deferred.
The NT Government says these three measures alone will save the Territory close to $115 million over four years from 2024-25 with “unfunded obligations” of up to $85 million not on the books.
“That is $200 million we currently do not have, which would have been funded by debt,” Yan says.
“The government is committed to living within its means and begun identifying areas where existing funding can be redirected towards higher priority initiatives,” he adds.
Yan says the government had asked agencies to curb international and interstate travel and reduce the use of consultants.
“Our CLP Government has to make tough decisions because the status quo is simply not working,” he says.
“Our challenges are added to the legacy of the previous Lawler Labor Budget having us $11 billion in debt by the end of the current financial year, and on the path (that) they put the Territory on, we will hit our debt ceiling of $15 billion in 2028-29.
“We will continue to deliver what we told Territorians we would prior to the election, and that includes implementing the Territory Co-ordinator to ensure we can secure and deliver major private sector projects once again.”
