Message from the Treasurer

It’s a privilege to deliver the first budget of the Finocchiaro Country Liberal Government – shaped in challenging times to reverse 8 years of Labor’s drift and rising debt. Real progress begins with safety – and that’s why this is a law and order budget. Without safety, there can be no prosperity.

We’re delivering record investment in police, courts and corrections to put victims first, hold offenders accountable and restore the rule of law. This budget backs our frontline and delivers on our promise to reduce crime and protect Territorians. At the same time, we’re focused on rebuilding the Territory economy in 2025.

The HomeGrown Territory grants, payroll tax relief, the Territory Coordinator, the Approvals Fast Track Taskforce and streamlined merits review anchor our 2025–2028 Rebuilding the Economy Strategy – making the Territory the best place in Australia to do business.

We stand firmly behind our onshore gas industry and the Beetaloo Sub-basin. Developing this resource will secure energy for the Territory and the nation, rebuild our economy and create thousands of well paid jobs.

Upon coming to government, we implemented a machinery of government restructure, establishing 18 specialist departments focused on driving economic growth. This reform is reflected in the budget’s staffing FTE figures, with roles reallocated and transferred to align with the new agency structures. There have been no cuts to the public service, just improved efficiency through streamlined agencies, allowing them to focus on their core business.

But growth means little if Territorians can’t enjoy their lifestyle. That’s why we’re easing cost of living pressures by keeping power bills down, funding the early childhood services subsidy to reduce the cost of childcare, providing free driver licences for 12 months, waiving trailer registration and providing $600 in vouchers for learn to swim, back to school and sports participation – practical help that leaves more money in people’s pockets.

Labor’s legacy – under funded frontline services, stalled projects and an artificial debt ceiling – required decisive action. We abolished the ceiling because keeping it would have meant cuts and job losses, undermining our goals to rebuild the economy, reduce crime and restore the Territory lifestyle.

This budget increases funding for courts and corrections to manage the flow-on effects of additional police resources. It also resets the infrastructure program, boosting repairs and maintenance and increased capital works funding to reduce the record levels of revote experienced under the former government, whereby projects were announced but did not proceed.

Stronger forecasts for GST, taxes and royalties help absorb new commitments, and the operating balance is on track to return to surplus in 2027-28 – proof that safety, growth and fiscal discipline can go hand in hand. Together, this budget charts a path to a safer, stronger and more prosperous Territory – one where disciplined finances support bold ambition for generations to come.