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NT Budget 2012 released

THE Northern Territory's Budget 2012 is a responsible Budget focused on supporting Territory families as the Territory gears up for growth, according to Treasurer Delia Lawrie who released the 2012-13 Budget last week.

Ms Lawrie said Budget 2012 totals $5.3 billion, with reduced GST revenues since the last Budget resulting in an 11/12 cash deficit of $491 million, decreasing to $278 million in 2015-16. It features an infrastructure spend of $1.3 billion.

"Budget 2012 supports Territory families with the most generous concessions and subsidies in the nation, and builds on the investment the Henderson Government has made to secure the Territory's economic and social future," Ms Lawrie said.

Land release

The Territory Government said Budget 2012 continues its commitment to release land to support a growing population with:

  • $15.9 million to continue headworks for the new suburbs of  Johnston and Zuccoli in Palmerston East;
  • $3.5 million to continue the $13.5 million development of the new Alice Springs suburb of  Kilgariff; and
  • $15.5m for a Trunk water main to supply Middle Arm industrial precinct and the new city of Weddell.

Roads

Budget 2012 provides for a $260 million infrastructure program for Territory roads and national highways, including;

  • $27 million for strengthening and widening, flood immunity and road safety improvements and $3 million for overtaking lanes between Darwin and Katherine as part of the national network roads program;
  • $10 million to continue upgrading the Central Arnhem Road, including the provision of passing lanes and $4 million for strengthening and widening targeted sections of  the Arnhem Highway; and
  • $8.5 million for the duplication of Howard Springs Road from the Stuart Highway to Whitewood Road and associated upgrades including Gunn Point Road.

Housing

The Territory Government said it is promoting home ownership by providing quality, affordable housing and generous homebuyer concessions, with Budget commitments including:

  • Funding to extend the BuildBonus scheme until 30 June, providing a $10,000 grant to all homebuyers purchasing or building a new home up to $600,000;
  • Continuing the Territory's stamp duty concessions, with first homebuyers saving up to $26,730 and rebates of $3,500 for non-first homebuyers; and $8,500 to assist senior Territorians and Pensioner and Carer Concession Card holders to downsize or buy a home;
  • $47.6 million for residential development works to deliver affordable housing under the National Rental Affordability Scheme;
  • $60 million for urban public housing and $44.4 million for government employee housing; and
  • $188 million for remote Indigenous housing and related infrastructure, under the joint Commonwealth and Territory governments' Remote Indigenous Housing Program, including essential services infrastructure.

Full details of the Northern Territory Budget 2012-13 are available from the Northern Territory Government Budget website at <http://www.budget.nt.gov.au/>.

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