He is the Treasurer. 

And that means he has the daunting task of reining in the Government’s $11 billion debt, which equates to about $45,000 for every man, woman and child in the NT. 

Interest expenses are $1.6 million per day. 

““I’m watching every Government dollar that’s going out the door,” he says. 

NT Treasury estimates that the Territory’s assessable debt will reach $15 billion by 2028-29. 

That is considered the “debt cap”, a legislated point that if exceeded requires the Treasurer to notify Parliament and all Territorians. Reaching the cap serves as a clear signal to revisit the Territory’s financial priorities. 

In other words, the 2025 Budget is decision point. 

Mr Yan believes the Territory Government can navigate these challenges by focusing on rebuilding the economy and ensuring a sustainable financial future. 

“We need to grow our own source revenue through business development. And we need to grow our population.” 

The Treasurer says newly-appointed interim Territory Coordinator Stuart Knowles and the seven-member Approvals Fast Track Taskforce will help cut red tape and encourage investment in the NT. 

“We want the Territory to be the can-do place to do business. There’s no reason why we can’t be the No 1 place in Australia for investment,” Mr Yan says. 

“We’re already improving our reputation and the attitude of investors is turning around very quickly.” 

He says dismantling Government’s so-called super departments and splitting them into smaller units is improving the agility, flexibility and responsiveness of the public service. 

Mr Yan says removing charges on many businesses will also give employers greater incentive to invest and take on more workers. 

“It seems a contradiction to lower Government income like that, but we know that it will come back later through more business activity,” he says. “We must make it easier to do business in the Territory.” 

The Treasurer is excited about the onshore gas projects being driven by Tamboran, Empire Energy and Santos at Beetaloo and McArthur basins. 

Geologists say that the Territory’s gas reserves are enough to power the whole of Australia for 400 years. 

Mr Yan says the Government is helping the developments by creating “infrastructure corridors” to transport the gas to Darwin or, at least, to the pipeline running from near Alice Springs to the Top End. 

He says the Federal Government is a strong supporter of the Territory onshore gas industry. 

Not so militant environmentalists. 

Mr Yan says environmental groups are working against the Territory’s economic interests and actively denying people opportunities, using communities as collateral for their self-serving agendas and depriving those who stand to benefit the most. 

“Any government must question the veracity of what any of them say,” he says. 

The Treasurer was brought up by his single mum and grandparents in Wangaratta in north-east Victoria – Ned Kelly country. 

“There wasn’t much money in my house,” Mr Yan says. 

His first job after leaving school at 16 was as a labourer with a fruit and veg delivery company before he started an apprenticeship as a mechanic.

He moved to Alice Springs in 1991 looking for work – and had several job offers within hours of arriving.

“I love Alice. It’s my home. There’s still a great community spirit despite all the social problems,” he says.

Mr Yan quit working as a mechanic because of the long hours and trained as a prison officer. Within 12 years, he worked himself up to be superintendent of Alice Springs Correctional Centre.

He was on a six-month secondment to Corrections Office as Director Custodial Operations for the NT in 2016 when a television story on the treatment of juvenile offenders led to a Royal Commission.

“It was a baptism of fire for me. I worked about 18 hours a day for a month after that. But I stand by my officers – they did nothing wrong. They followed protocols. A young man threatened to harm himself and they had no choice but to restrain him.”

The former prison boss won the Central Australian seat of Namatjira for the CLP by only 22 votes at the 2020 election but retained it by more than 1000 in 2024.

He has two children – his daughter Lauren works at Riding for the Disabled in Alice Springs and his son Mitchell is a bricklayer in Perth.

Mr Yan, who has volunteered for several community groups, such as the YMCA and the Finke Desert Race, made newspaper headlines in 2022 when a large crocodile forced him to scramble up a tree while fishing near Shady Camp.

He had the presence of mind to video the angry croc with his phone while in the tree.

The Treasurer started mountain climbing a few years ago – “because I wanted to do something different”.

He has trekked to Everest base camp three times, most recently at the start of 2024 with his daughter … in the middle of winter. And climbed the nearby 6200 metre Island Peak on his 50th birthday.

Bill Yan, the self-confessed petrol head, fishing fanatic, crocodile survivor and working class man, loves his new job as Treasurer, despite the enormous challenges.

But he accepts that fixing the Territory’s economy won’t allow him much time for one of the loves of his life: chasing barra.