Home' Tennant and District Times : 2015-0508 TDT Contents TENNANT AND DISTRICT TIMES FRIDAY 8 MAY 2015 3
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DEPARTMENT OF BUSINESS
Expressions of Interest
Expressions of Interest are sought from individuals across the Territory for
The Committee is made up of community and government representatives
to advise the Minister for Business on the operation of the Community
funding for gambling research and
gambling amelioration programs as well as providing grants to support
Resumes and Expressions of Interest including information on personal
and professional experience, particular areas of interest, and expertise
relevant to the committee, should be submitted to the Secretariat by:
Email: firstname.lastname@example.org or
Post: GPO Box 1154, Darwin, NT 0801
Submissions close 11 May 2015
For further information contact the Secretariat on the above email address
or phone 1300 650 153
Business Budget Breakfast
Local businesses, non-government organisations and other
stakeholders are invited to join the Minister for Business,
the Hon Peter Styles MLA for a breakfast presentation on the
2015-16 Budget and what it means for Business in the Barkly.
When: Monday 11 May, 7:00-8:30am
Where: Battery Hill
For further information or to confirm your attendance please
contact Nicole Blankenspoor by phoning 8962 4411 or
TERRITORY Treasurer Dave Tollner was in
town last Friday, bearing Budget news for the
A group of around 20 local business people and organ-
isation executives attended the NT Budget presentation
at the Battery Hill Theatrette.
He was accompanied by Member for Stuart, Bess
With a theme of Making Your Life Simpler, Safer
and Smarter, Mr Tollner walked the attentive audience
through the dry detail of the fiscal outlook and why
he and his other Cabinet Ministers believe the $6.3
billion carve up was necessary and in the interest of
Thirty seconds into his hour-long speech, Mr Tollner
spotted a former basketball colleague in the second row
and relaxed the atmosphere of the room in preparation
for a crash course in macroeconomics which lasted for
a good 45 minutes and underpinned the message that
the Territory was in good hands, in good shape and
was looking at a future that is as exciting and more
prosperous than its past.
“When this government came to power in 2012 we
were very keen to drive private investment and restore
the balance between public and private sector invest-
ment,” he said.
“The Territory economy is in line to deliver a balanced
budget by 2017-18 and debt will be halved from previ-
“We are the standout economy across the nation with
a growth rate last year of 6.5 per cent”
Two elephants in the room which needed to be ad-
dressed were the sale of Territory Insurance Office
(TIO) and the structural reforms to the Power and Water
“PWC, according to the ratings agency Moody’s, was
not in good shape at all when we took office and we
have separated out its power generation business and
retail business with further separations to come.
“This has made the organisation more transparent and
accountable but most importantly it has delivered a
substantial decrease in the wholesale price of electric-
ity and an increase in reliability of service delivery.”
The Territory Insurance Office was set up in 1979
because of difficulties in getting interstate companies
to do business in the Territory and according to Mr
Tollner, nothing has changed.
“When I travel through Asia I get swamped by compa-
nies and individuals who want to pour money into the
NT, be it to buy cattle stations, building ports, anything.
“They would buy the whole place lot, stock and barrel
if they could,” he said.
“I go interstate and visit my former colleagues in the
superannuation industry, drumming up investment op-
portunities for the Territory, and the response I get is
‘why would we invest up there?’”
Mr Tollner said TIO was designed to meet the specific
needs of Territorians in insurance cover for cyclones,
storm surge and flooding and the company paid out
more than 60 million dollars in claims after the 1998
Since it’s inception, TIO had gone from 100% market
share in the Territory to less than 40% with an annual
decrease in its customer base.
“The Territory Insurance Office was withering on
the vine with ever increasing difficulty in accessing
reinsurance rates competitive with other insurers in the
market,” Mr Tollner said.
“It’s future is now assured and TIO customers are now
able to take their policies with them interstate should
they wish to do so.”
For the Barkly, the jewel in the crown appears to be
the Tennant to Mt Isa gas pipeline proposal.
“As it stands, the Barkly Highway easement is a wide
corridor with few land title issues and is sufficient to
accommodate the gas pipeline and a railway spur to the
East Coast,” Mr Tollner pronounced.
“There are companies in the market who are willing
to build the pipeline without any government money
so I am confident it will happen soon, then we can
re-align the Barkly Highway through Tennant Creek
where it belongs and that’s when Tennant Creek will
take off again.”
Budget to the Barkly
l Treasurer Dave Tollner.
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