Media Release from Shadow Minister for Business, Jobs and Training Marie-Clare Boothby:
The most recent employment information released this week by the Australian Bureau of Statistics (ABS) reveals the Northern Territory's economy is going backwards under Labor.
The ABS monthly Labour Force Data shows there were 932 fewer jobs in April 2024 compared to the previous month. The number of people employed full time fell by 347 positions, and 585 part time positions were wiped from the Territory. This follows a cut of $120 million to the Territory health budget, and over 200 fulltime positions lost in the public health workforce.
Shadow Minister for Business, Jobs and Training, Marie-Clare Boothby criticised the Labor Government, highlighting their 8 years of economic and financial mismanagement.
"The Territory’s economy is going backwards, and this weak Labor Government announced Territory debt blowing out from $9.4 billion to $11 billion – a record deficit –with nothing to show for it,” Ms Boothby said.
“Labor’s own forecasts show that they’re failing to get Territorians into work faster. Employment growth is less than last year and unemployment is set to increase.”
“Labor’s budget did nothing to grow jobs or economic activity, it condemned Territorians to more of the same,” Ms Boothby said.
In stark contrast, the CLP’s Budget Reply outlined our Roadmap to Rebuild the Territory.
Our Plan of Action to grow the economy includes payroll tax relief for small business and our new HomeGrown Territory Program. The program will address key barriers to entering the housing market. It will increase housing supply, underpin population growth and address the rising cost of living.
We have committed to raising the payroll tax-free threshold for the first time in 13 years from the current rate of $1.5 million to $2.5 million; and apprentice and trainee wages will be exempt from payroll tax as part of the new $2.5 million threshold. This will save businesses thousands of dollars and encourage them to invest in growing Territory apprenticeships and traineeships.
Only the CLP can rebuild the Territory by reducing crime and restoring our lifestyle.
