The Treasurer, Delia Lawrie, has avoided the Opposition’s questions about when her Government will be able to pay back its budget deficit.
The Government has announced the deficit will be $268 million this year – $94 million more than previously predicted.
The Government forecasts that it will be $61 million in the red by 2014.
During Question Time, the Opposition’s John Elferink sought to clarify when the debt would be paid off.
“Over the next four years you are going to nearly double the Northern Territory’s net debt,” he said.
“By what date will you pay that back, or is it just the case that you’re happy to rack it up on the credit card and let somebody else sort out the problem?”
Ms Lawrie was almost drowned out by the Opposition when she responded.
“Now is not the time for that, now is the time for protecting jobs and we will return the budget to surplus,” she said.
“We have explained the step-out strategy.
“We’ve certainly indicated we’ve extended that by about two years.”
“As you go into surplus, you’re paying off debt.”
The Chamber of Commerce says the $268 million deficit is a responsible way to keep construction jobs in the Northern Territory until the next big project.
Chris Young says Government stimulus will cover for a lack of private investment in the wake of the global financial crisis.
“Quite simply, you’re talking $5.1 billion of expenditure,” he said.
“They’re throwing virtually everything that’s coming in the door straight back out the door and that’s got to be good for the economy.”
The Real Estate Institute says it is pleased with budget announcements that attract first homebuyers into the market but is urging faster land release.
The institute’s chief executive, Quentin Killian, says some of the fast track land releases in Palmerston have been too gradual and the need is most urgent in Alice Springs.
“We would hope that the Government is good to their word and does fast track land release and particularly in and around Alice Springs area.
“While we continue to look at Bellamack and Zuccoli and other Palmerston suburbs, Alice Springs is an area that’s in chronic housing shortage at the moment so it’s very important that the AZRI site gets fast tracked.”