The 2018-19 Treasurers Annual Financial Report – whichwas tabled in Parliament tonight – shows the Territory Labor Governmentdelivered another massive infrastructure spend whilst achieving an improvedbudget position.
The $1.507 billion infrastructure spend in 2018-19 is$27 million above the recent budget estimate of $1.48 billion. There was also a$388 million improvement in the expected deficit.
More than 622 construction contracts were awarded in2018-19 with almost 99% of these going to local businesses. This work createdand sustained thousands of local jobs.
This latest big, job-creating infrastructureinvestment has come at a time when the Territory needs it most as the US$37billion Inpex LNG project transitions from construction to export phase, havinginjected around $5 billion into our economy each year.
As stated by Treasurer Nicole Manison:
Our number one priorityis creating local jobs thats why we have invested heavily in infrastructure.
We know that theTerritory economy has been challenging – following the wind down of the INPEXconstruction phase and the massive Federal Government GST cuts – and we aredoing everything can to support Territorians.
“Unlike the train-wreck former CLP Government, we haveworked hard to deliver for Territorians, to support jobs and local business,and to diversify the economy.
“When in government, the CLP cut teachers, put up powerprices by 30%, sold government assets like the Port and TIO and still estimated almost a $900 million deficit.