Home' Tennant and District Times : 2014-1121 TDT Contents 6 TENNANT AND DISTRICT TIMES FRIDAY 21 NOVEMBER 2014
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CHIEF Minister and Treasurer Adam
Giles provided 48 hours in Parlia-
ment for Opposition analysis of the
Treasurer’s Annual Financial Report.
With Opposition responsibility for Treasury
I accepted the challenge, studied the books
and stood ready to debate however the Chief
Minister chose to adjourn the matter!
The Treasurer’s Annual Financial Report
shows the true extent of financial pain in-
flicted on Territory businesses and families
naming the CLP Giles Government the high-
est taxing in our history reaping an additional
$81.1 million in taxes from businesses and
families in the 2013/14 financial year.
Essentially while the CLP crow about an
improved budget result it comes at the ex-
pense of Territorians seeing reduced services,
cuts to important capital works fuelling our
construction sector and tax and tariff hikes
filling Government’s coffers.
The CLP tax grab consisted of an extra
$50.1 million in payroll tax, an extra $20.8
million in stamp duties and a $10.2 million
increase on gambling, insurance and motor
vehicle registration (page 112).
Under CLP fiscal management, in two years
340 Territory businesses have closed and Ter-
ritorians are struggling under a crippling cost
of living burden yet $33 million for the Chief
Minister’s own Department part of elaborate
television and print media advertising.
The Public Non-Financial Corporation Sec-
tor Cash Flow Statement (page 29) shows an
extra $230 million in revenue gained in our
corporations a result of escalating tariffs in
Power, Water and Sewerage improving the
balance sheet but causing Territory families
and businesses financial stress.
The General Government Sector Budget
shows a 2013/14 deficit of $62.5 million
against an extra $81.1 million boost from
taxes, additional $22.9 million in GST and
$83.5 million in other Commonwealth pay-
ments therefore a win-fall in Federal money
as opposed to a responsible fiscal strategy.
In addition the Government benefited from
a $39.5 million increase in mining royalty
collections due to the combined effect of
the moderation of the Australian dollar and
increased commodity prices and a further
$22 million from an as-yet undisclosed legal
Concern to our construction sector is the
reduction in Government capital works, re-
ducing spending by $98 million (page 112)
evidence of regional businesses increasingly
desperate for work.
In Treasurer’s speak, the overall improve-
ment since the May 2013 Budget, “is largely
the result of the revised timing of the hando-
ver of the $521 million Darwin Correctional
Precinct from 2013/14 to 2014/15, increased
taxation revenue and the revised timing of
Commonwealth-tied funding and associated
expenditure between years.
The result was further influenced by a
reduction in net capital payments during the
year and the improving financial position of
PWC” (page 15).
In short, the highest taxing government
in our history reaping benefits of a massive
$81.1 million tax hike, slashing the construc-
tion program, major power, water and sewer-
age price hikes and shifting numbers across
years while the CLP Government takes an
axe to crucial education and health services.
The CLP Government took a $10 million
dividend from the financially sound TIO
this year while cutting $30 million from
first home owner grant programs fuelling the
conspiracy why a ‘crowing CLP treasurer’
would adjourn Territory Opposition debate?
Member for Barkly
BARKLY ELECTORATE OFFICE:
Phone 8962 4641. Email: email@example.com
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