Northern Territory Election 2020 Eight Priorities for an Incoming Government

With less than one week to go until the election, the Property Council has again called on whichever party forms government to consider the economic future of the NT’s property sector.

The property sector is vital to the rebuilding of the Territory economy post-COVID, and the following eight reform priorities should be integral for the future Northern Territory Government. These priorities should form the basis of the incoming Government’s First 100 Days:

1. Implement Marco Economic Policies that create a diversified and sustainable economy.
   The keystone reform should contain the introduction of a resource and energy retention and reservation policy framework, to underpin the economic rebuild post-COVID.

1. Implement a Population Strategy based around job opportunity and lifestyle.
   With Boundless Possible being no longer possible due to its campaign termination, the Territory needs new strategies to promote and achieve both migration and immigration population growth once it is safe to do so. Job creation is the key incentive to population growth, as is our safe reputation as a jurisdiction that has survived a global pandemic with very few health impacts. Now that companies have become better equipped at working remotely, there is no reason more employees can’t base themselves in the NT while still working for east-coast organisations.

1. Work with the Federal Government and deliver reforms to achieve Developing the North.
   With the increasing strategic and geopolitical importance of the North of Australia consistently under the lens, it is in Australia’s best interest to have an economically robust Northern Territory in the future.

1. Implement tax reforms to attract and create new industries and jobs.
   Create a globally competitive taxation environment that attracts and retains industries in the Northern Territory.

1. Implement all recommendations under the Langoulant Report.
   Develop a strong culture of budgetary discipline and responsible fiscal management built upon empirical evidence and results.

1. Implement the 30-day approval time frames for straight forward business applications.
   A good concept that emerged from the Territory Economic Reconstruction commission’s first report and needs implementation.

1. Implement the recommendations from the Territory Economic Reconstruction Commission.
   With the final report being due in November 2020, there will be little time to enact the necessary macroeconomic policy reforms identified by the Commission within the first 100 days. Whichever party forms government will need to work quickly to implement these recommendations.

1. Change the “Culture” of the Northern Territory Public Service.
   Introduce new Key Performance Indicators (KPI) managed and enforced by the relevant Minister for all executive level positions to support and facilitate real cultural change.

Come August 22^nd, there will not be any time for a honeymoon period for a future Northern Territory Government. The economy will need the first 100 days of Government to be filled with decisive action and real results, to allow the property sector to get back to work building, employing and growing the Territory.

Property Council of Australia, Level 1, Paspalis Centrepoint, 48- Smith Street, Darwin, NT 0800, Australia, +61 8 8943 0666

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