This is an important room to speak to after a budget, because people here deal with the practical end. 

You see quickly whether a budget is real, whether projects are funded, tenders are moving, confidence is holding, and the Territory is becoming easier or harder to invest in. 

The budget continues the work we started when Territorians voted for change: reduce crime, rebuild the economy and restore our unique Territory lifestyle. 

It is a budget for everyday Territorians. 

Households are still under pressure. People feel it when they fill the tank, pay the power bill, freight goods, insure a business or build a home. 

The Government cannot pretend those pressures are not real or make them worse by spending without discipline. 

Fuel is one clear example. We backed relief measures, including $19.7 million to reduce fuel excise by 5.7 cents per litre. We also triggered the 77-year-old Price Exploitation Prevention Act, appointed a controller and put fuel retailers on notice that they can be compelled to provide their full cost structure. 

A NAVY CEREMONY IN DARWIN … THE MARINE COMPLEX WILL SUPPORT DEFENCE CAPABILITY IN NORTHERN AUSTRALIA BY ENABLING SUSTAINMENT OF MILITARY VESSELS AND LANDING CRAFT. PHOTO: LSIS ERNESTO SANCHEZ 

Territorians deserve confidence that volatility is not profiteering. That discipline applies to the budget. In 2025-26, the General Government Sector is forecast to deliver an operating surplus. That means, for the first time since 2022- 23, the Territory is not borrowing for wages. That is real change. 

For eight years, Labor let deficits and debt build. Net debt reached $9.02 billion, with growth of about 22 per cent a year. Territorians understand that problem. You cannot keep maxing out the credit card without a plan to pay it back. Eventually interest crowds out better choices. 

In our first budget, we dealt with Labor’s time-limited programs, funding cliffs, project blowouts, broken promises and unsafe streets. We did not follow that path. 

We have reduced debt growth by 18 per cent while increasing frontline workers by more than 6 per cent. Net debt is forecast at $11.35 billion in 2025-26. It is forecast to stabilise at around $13.2 billion in 2027-28 and 2028-29, before reducing from 2029-30. 

That is reflected in Moody’s stable credit outlook on 26 April. 

We have backed the frontline. There are 100 more police on the streets and 80 more nurses in hospitals than under Labor. 

THE SHIP LIFT … ‘WALKING AWAY WOULD COST UP TO $600 MILLION IN BREAK FEES FOR ZERO MATERIAL GAIN’. IMAGE: PEARLSON SHIPLIFT CORPORATION 

Victim numbers across the Territory are down 10.2 per cent, which means 2700 fewer Territorians affected by crime. 

We have made the capital works program more credible. Phantom projects have been removed. The program has been refocused on projects that can be planned, funded and delivered. That matters here, because a capital works program only creates confidence if it becomes contracts, jobs and work on the ground. 

We have put an additional $498 million into capital expenditure, real cash for a record total of $2.7 billion. 

For the first time in a decade, the Territory has moved off the bottom of the CommSec State of the States rankings. That is progress. 

This budget continues the momentum. It delivers another record law and order spend of $1.73 billion, because safety remains Territorians’ No 1 priority. 

It secures a $4.25 billion capital works program, including $496 million in economic enabling infrastructure and $2 billion for roads and transport. 

It provides $460 million in additional capital works cash for a record total of $2.7 billion so we can deliver the program, rather than re-voting promises year after year like a broken record. 

That is how we provide growth, certainty and security. 

We are delivering record investment in health and education. The health budget is $2.52 billion. That includes $68 million for St John Ambulance, putting more paramedics on the ground. 

We are investing in a new $110 million specialist high school in Palmerston. We have set aside $15 million to design new men’s and women’s prisons in Darwin. More than $130 million is dedicated to flood recovery and resilience. 

For families, cost of living remains front of mind. This budget delivers more than $290 million, an increase of $57.2 million, in concessions and targeted support, including power and water subsidies, back-to-school vouchers, free swimming lesson, and support for seniors. 

Territorians will see the Government’s discount on power bills. 

The RBA lifted the cash rate by 25 basis points to 4.35 percent and households are going to feel the squeeze. That’s why the additional $57.2 million in cost-of-living relief in this budget particularly for electricity matters. It helps take the pressure off households, putting around $2,178 back into the average family budget. 

That is practical help. 

At the same time, we are rebuilding the economy. People in this room know real growth comes from business confidence, private investment and jobs. 

That is why we are backing defence, mining, energy, agriculture and tourism, while keeping payroll tax settings competitive, supporting apprentices and trainees, unlocking land, backing home ownership and attracting workers. 

Last year, we raised the payroll tax-free threshold to $2.5 million, the nation’s highest, and exempted apprentices and trainees. Since then, payroll tax revenue has gone up. That shows you can grow revenue by growing the economy, not just by increasing tax rates. Many small and medium businesses no longer pay payroll tax. 

Another 115 Territory employers have claimed more than $27 million in exempt apprentice and trainee wages, saving around $1.5 million in payroll tax while training the next generation. 

This budget also extends HomeGrown grants for new homes. More than 500 grants have been processed for new housing supply, with around $30 million paid to support more than $217 million in construction activity. Territorians are choosing to build, buy and put down roots here. 

The economy is showing encouraging signs across population, housing and business activity. 

More than 5500 international students from over 60 countries studied in the Territory last year, supporting the economy, workforce and future population growth. 

The Territory is open for business. Major projects like the Northern Marine Complex will create jobs, attract investment and strengthen the Territory as a strategic hub for defence and industry. 

It will support defence capability in northern Australia by enabling sustainment of military vessels and landing craft. 

It will position Darwin as a maritime sustainment hub, grow sovereign capability, reduce reliance on interstate and overseas maintenance, and create high-skilled jobs in engineering, fabrication, logistics and maritime services. 

As defence investment in the north grows, the Territory must be ready to capture the jobs, contracts and long-term opportunities that come with it. 

That is why the ship lift matters. Territorians also deserve the truth about it. What began as a $100 million capped CLP commitment in 2015 blew out under Labor to $820 million and rising. 

The Public Accounts Committee found that, in 10 years, not once was a business case prepared. Labor signed the contracts. Labor signed up to the blowouts. That is what we inherited. 

The committee also made clear that walking away would cost up to $600 million in break fees for zero material gain. That would be a gross misuse of public funds. We will not do that. 

The Government is backing delivery of the ship lift, with strict cost controls and Treasurer-level oversight. Our focus is maximising the value of this strategic asset for Territorians. 

Through the adjoining marine complex, we want Territory businesses to grow, win work and create quality jobs. 

Across the Territory, our infrastructure program is delivering roads, housing, schools and economic opportunities, with a focus on regional and remote communities. 

We are also investing in the lifestyle that makes people want to stay here. 

Last year, we secured 30,000 hectares through the purchase of Silkwood Estate, expanding Litchfield National Park. 

That protected an iconic landscape, while strengthening the Territory’s reputation as one of Australia’s great outdoor destinations. 

This budget adds $10 million for parks, including land management, visitor access, infrastructure improvements and safety works. 

Planning for Silkwood will identify sustainable tourism and commercial opportunities that create regional jobs, support local businesses and grow the economy while preserving the values that make the place special. 

Events are part of that lifestyle too –major events, sport and community activities generate around $85 million a year for the Territory economy. 

This budget supports parks, roads, sport, fishing, community facilities and major events, including an additional $5 million a year for parks and reserves, $9 million over three years for AFL matches and $2 million over two years for international cricket. 

So this budget is for everyday Territorians. It backs safer communities. It rebuilds the economy. It protects the Territory lifestyle. It supports families now while building a stronger base for the future. 

The job is not finished, but the direction has changed. The books are improving. The economy is moving. The Territory is worth backing. TQ 

LITCHFIELD NATIONAL PARK … THE BUDGET ADDS $10 MILLION FOR PARKS, INCLUDING LAND MANAGEMENT, VISITOR ACCESS, INFRASTRUCTURE IMPROVEMENTS AND SAFETY WORKS. PHOTO: TOURISM TOP END