Live moment: NT debt approaching record $14b by 2029 as CLP delivers first budget

Australia Broadcast Center

13-05-2025

The Northern Territory's net debt will reach more than $12 billion next financial year, with the budget forecasting a further increase to nearly $14 billion by 2029.
The Country Liberal Party government's first budget has revealed a deteriorating fiscal position for the territory, which has a population of around 255,000 people.
The budget shows the government will have to borrow $265 million to fund its day-to-day operations next financial year, and another $101 million in 2026-27.
When infrastructure funding and the financial performance of government corporations are added to the bottom line, the government will run a fiscal balance deficit of $1.3 billion in 2025-26.
Overall, the NT's net debt will rise from $10.5 billion this financial year, to more than $12 billion in 2025-26.
By 2028-29, the net debt is forecast to hit almost $14 billion.
NT Treasurer Bill Yan said the budget "puts crime victims first, prioritises law and order and begins the long task of repairing Labor's mess".
Big spends include an additional $305 million for the beleaguered Darwin ship lift project, on top of $515 million already budgeted.