00:02From gold to gas, copper to coal lithium, the Northern Territory's Treasurer says the
00:07NT's economic tide is turning.
00:10We've seen our debt climb, but we're showing the forwards that it's starting to stabilise
00:14before starting to reduce.
00:16Bill Yan says that's in part due to mining projects, many of which predate the country
00:21Liberal Party's rise to power.
00:23But two years into their term, Bill Yan says it's their pro-industry approach driving progress.
00:30What we're doing as a government is to make sure that we provide those opportunities
00:35and that environment where investors want to come and not get in their way.
00:39Economists say there's more than politics at play.
00:43Rollercoaster share prices and fluctuating demand for certain resources are major factor
00:48in why some projects haven't succeeded until now.
00:51That kind of environment, which governments can't influence one way or the other, does
00:56make it very difficult for mining companies to line up the finance they need.
01:02In 2024-25, the Territory's debt was sitting just over $11 billion.
01:08It's now projected to reach $12.5 billion by the end of this financial year, ballooning
01:15to $13.2 billion by the end of 2027-28.
01:19The Territory's bottom line has improved marginally between the CLP's first and second budgets.
01:26But Saul Eslake says that isn't thanks to the CLP's smart fiscal management.
01:32The decisions they have made about spending and revenues have actually made the position worse.
01:39But they've covered that up with some windfall gains, particularly getting a bit more GST.
01:44Mr Eslake said the CLP's big spending to deliver on crime and corrections has come at a cost,
01:51while revenue streams aren't being maximised.
01:54They do appear nervous about trying to get more money out of mineral royalties,
01:59which in the Northern Territory could be higher than they are.
02:02The Territory's financial future still on shaky ground.
02:07The Territory's financial future also found.
02:10The Territory's financial future also found.
02:10For more information, the Territory's financial future has been abestosmort.
