NT government to remove debt ceiling

by

Ed.

Reported at www.abc.net.au: The Northern Territory government is set to remove a $15 billion debt ceiling during the upcoming parliament sittings to avoid significant public service job cuts, as the current net debt is projected to reach this cap by the 2028-29 financial year.

Treasurer Bill Yan criticized the previous Labour government’s handling of debt, asserting that their debt cap was merely a facade and that the CLP would focus on managing costs while limiting non-frontline public service position growth.

The government also acknowledged discovering over $20 million in underpayments owed to public service shift workers, which adds to the financial pressures.


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