Fiscal Strategy Panel Final Report
Following the structural change in the NT’s fiscal position, largely driven by unprecedented reductions in the NT’s largest revenue source (GST), moderating economic conditions and increasing service demands, it was necessary for the government to revise its fiscal strategy and progress a range of systemic whole of government reforms to return the budget to a sustainable position over the medium to long term.
In November 2018, the NT Government established the Fiscal Strategy Panel, chaired by John Langoulant, to provide an independent assessment of the NT’s fiscal outlook and develop a plan for budget repair.
The panel’s interim report was released on 14 December 2018. The panel subsequently consulted with stakeholders and the broader community in developing the final report, including a plan for budget repair.
On 16 April 2019, the Chief Minister released the Fiscal Strategy Panel’s final report, A plan for budget repair, along with the NT Government’s response to the report’s recommendations. The final report contained 76 recommendations, of which, government accepted 68 in full, with a further four accepted in principle and two accepted in part.
The recommended reforms will support the NT Government to achieve the necessary level of expenditure growth restraint required to return the NT budget to surplus over the medium term by generating efficiencies though:
- increasing financial accountability and transparency
- improving financial management policies and processes
- reforming the NTPS to deliver a sustainable workforce
- organising agencies and functions more efficiently and effectively
- using evidence-based decision-making to drive effectiveness and efficiency
- digitally transforming the NTPS to drive innovation and reduce costs
- optimising revenue to support budget repair.
A copy of the Fiscal Strategy Panel’s final report and NT Government’s response can be found at:
Last updated: 16 August 2019