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Speaker 1: Joining me on the line is the Federal Finance Minister

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Speaker 1: Mattias Corman. Good morning, Good morning Now Minister COVID nineteen

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Speaker 1: has pushed the budget deep into the red in an

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Speaker 1: effort to try and steer the economy forward. The Treasurer

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Speaker 1: Josh Friedenberg last night announced tax cuts and incentives to

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Speaker 1: try to get Aussie's into jobs and spending and well

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Speaker 1: to get small business moving. How many jobs will be

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Speaker 1: created for the Northern territory.

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Speaker 2: Across Australia. We expect that about a million jobs will

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Speaker 2: be created through the budget that we delivered yesterday and

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Speaker 2: clearly a proportionate proportion of that will take place in

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Speaker 2: Northern Territory. Now, you know, Australia and Northern territories and

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Speaker 2: people all around Australia were hit very hard by the

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Speaker 2: economic and jobs impact of the coronavirus pandemic. We know

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Speaker 2: why we are in a position we're in. But the

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Speaker 2: budget last night is our plan to get Australia out

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Speaker 2: of this COVID recession and back to the strongest possible

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Speaker 2: economic and jobs recovery moving forward.

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Speaker 1: Minister, do the measures an Ounstove and Night provide businesses

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Speaker 1: with the confidence to invest and keep people employed.

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Speaker 2: Well we believe that do. I mean, you know, in

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Speaker 2: most parts of Australia the economic recovery is already in

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Speaker 2: full swing. I mean in jurisdictions, you know, including the

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Speaker 2: Northern Territory I'm madad which has had zero active crisis

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Speaker 2: for a very long time, which I can't remember whether

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Speaker 2: there has been any locally acquired community transmission in Northern Territory.

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Speaker 2: So I mean in most parts of Australia the economic

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Speaker 2: recovery is already in full swing and the plan that

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Speaker 2: we outlined yesterday will help provide a significant boost to that.

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Speaker 2: We are providing time limited tax incentives, so we're really

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Speaker 2: signed to business. If you are thinking of investing in

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Speaker 2: your future growth and success, this is the time to

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Speaker 2: do it because we are allowing you to immediately, fully

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Speaker 2: expend and fully deduct the entire value of your investment

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Speaker 2: in in the one financially and that will, we believe,

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Speaker 2: trigger a lot of investment all around Australia, including the

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Speaker 2: Northern Territory. And of course, a business that invests in

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Speaker 2: its future growth and success, a growing business will hire

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Speaker 2: more Australians, will hire more territories and we.

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Speaker 1: Know that there is also going to be a job

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Speaker 1: maker hiring credit. It is going to be paid for

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Speaker 1: a year to businesses who hire an unemployed worker aged

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Speaker 1: between sixteen to thirty five from the job Seeker program.

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Speaker 3: Why is this only eligible for young people?

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Speaker 2: Well, the reason is that young people were particularly hard

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Speaker 2: hit by the job's impact of the coronavirus pandemic, and

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Speaker 2: the learnings out of previous recessions are that it's very

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Speaker 2: dangerous for the economy as a whole if younger people

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Speaker 2: remain disconnected from the labor market of an extended period.

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Speaker 2: It's very very important for us, through a measure like this,

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Speaker 2: to get young people back into the labor market, back

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Speaker 2: into the workforce as soon as possible, so that they

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Speaker 2: don't become entrenched on income support because that, ultimately, I mean,

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Speaker 2: it's bad for them and it's bad for the economy

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Speaker 2: as a whole. So the reason here really is there

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Speaker 2: was a disproportionately high impact on young restrains. We need

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Speaker 2: to ensure that we don't have them entrenched on welfare

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Speaker 2: support and we get them back into the active economy

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Speaker 2: as soon as possible, because that's important all around.

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Speaker 3: Now.

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Speaker 1: Jim Chalmers, the Opposition spokesperson for Finance says that the

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Speaker 1: budget leaves many Aussies out in the cold, does it.

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Speaker 2: No, I mean he's just making a political point. I mean,

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Speaker 2: you know, here we are, we've been hit with a

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Speaker 2: one in one hundred year global pandemic with serious implications

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Speaker 2: on our budget. We've been working hard to cushion the

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Speaker 2: blow on the economy, on jobs, you know, in the

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Speaker 2: initial phase, we've been working hard to help facilitate the recovery.

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Speaker 2: The budget yesterday is our plan to get Australia out

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Speaker 2: of this cold recession, to get all Australians back into

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Speaker 2: a position where they have the best possible opportunity to

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Speaker 2: get ahead. And I mean he's just polit politicking, and

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Speaker 2: it's very disappointing.

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Speaker 1: I guess there will be some people listening this morning though,

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Speaker 1: who are aged over thirty five and who may be

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Speaker 1: on job seeker or job seeker or job keeper and

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Speaker 1: are concerned about what's going to happen for them after

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Speaker 1: that ends.

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Speaker 3: What would you say to those territorians.

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Speaker 2: Well, all of those territories will benefit from the strong

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Speaker 2: economic and jobs recovery that this budget will help facilitate.

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Speaker 2: I mean, you know, all the more experienced Australians with

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Speaker 2: a longer truck record in the workforce prior to this crisis,

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Speaker 2: hitting are several steps ahead compared to younger Australians and

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Speaker 2: they'll find it comparatively much easier to get back into

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Speaker 2: the labor market because they're able to demonstrate a work

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Speaker 2: history and a level of performance that lets them get

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Speaker 2: back into the labor market. Does the opportunities come back

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Speaker 2: on stream? All the strains of all ages will benefit

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Speaker 2: from the strong economic and jobs recovery that will follow

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Speaker 2: as a result of the many initiatives in the plan

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Speaker 2: that the Treasurer released last night.

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Speaker 3: Now Minister.

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Speaker 1: Locally, the Federal opposition are saying that the budget's going

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Speaker 1: to rack our the trillion dollars of debt, but the

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Speaker 1: Northern Territory is still copying are one hundred million dollar

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Speaker 1: cut to our GST payments which will obviously make recovery

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Speaker 1: more difficult. In their words, what is in the budget

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Speaker 1: for the Northern Territory?

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Speaker 2: Well, you know, for firstly, I've I've got to completely

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Speaker 2: reject that proposition has just put I mean GST payments

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Speaker 2: is a Northern Territory are estimated to be two point

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Speaker 2: seven billion dollars in twenty twenty twenty one. That is

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Speaker 2: an increase of two hundred and twenty one point six

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Speaker 2: million dollars compared to what was in the twenty nineteen

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Speaker 2: twenty budget. Overall, total payments to the Northern Territory are

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Speaker 2: increasing by four hundred and two million dollars. There is

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Speaker 2: an increase of sixty six point five million dollars to

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Speaker 2: the Northern Territory Health and hospital system. There, you know,

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Speaker 2: is one hundred and ninety million dollars they'reabout of additional

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Speaker 2: funding for infrastructure projects in the Northern Territory. There's there's

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Speaker 2: there's significant funding for education and skills training across the

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Speaker 2: Northern Territory. About one hundred and twenty thousand income taxpayers

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Speaker 2: in the Northern Territory. We receive tax relief for the

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Speaker 2: twenty one financial year. And of course there are many

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Speaker 2: territories that continue to receive a job keeper and enhance

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Speaker 2: job Seeker payment. And indeed the cash flow Boost measure

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Speaker 2: for businesses is benefiting many small and medium sized businesses

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Speaker 2: in the Northern Territory.

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Speaker 1: Minister, can I just go back to that point about GST,

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Speaker 1: because this is something that the government here in the

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Speaker 1: territory raises quite often and it is often the blame

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Speaker 1: for you know, for us going through financial difficulties or

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Speaker 1: you know, different issues within their own budgets.

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Speaker 3: Just to make it really clear for our listeners.

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Speaker 1: This morning, what you're saying is that there hasn't actually

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Speaker 1: been a reduction of one hundred million dollars to our GST.

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Speaker 3: You're saying that it's been increased.

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Speaker 2: Let me be very explicit. The Northern Territory in twenty

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Speaker 2: twenty one is expected to receive two point seven billion

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Speaker 2: dollars in GST payments and that is an increase, an

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Speaker 2: increase of two hundred twenty one point six million dollars

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Speaker 2: compared to twenty nineteen twenty So.

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Speaker 1: Why do you reckon the Northern Territory government? And also

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Speaker 1: the federal opposition is saying that that is still a

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Speaker 1: one hundred million dollar cut, So they're basically saying that

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Speaker 1: we're going to receive that two point seven billion in

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Speaker 1: GST payments this financial year and that it's a reduction

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Speaker 1: of about one hundred million.

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Speaker 3: Are they going on forward estimates or.

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Speaker 2: You'll have to ask them that, like, but you know,

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Speaker 2: I mean clearly all around Australia. All jurisdictions are dealing

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Speaker 2: with the impact of a one in a one hundred

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Speaker 2: year pandemic and that has had an impact on consumption

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Speaker 2: all around Australia's had an impact on business and jobs

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Speaker 2: all around Australia. And we're all doing our best. But

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Speaker 2: when it comes to payments to the Northern Territory, let

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Speaker 2: me repeat, there is an increase of two on twenty

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Speaker 2: one point six million dollars in GSD payments to the

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Speaker 2: Northern Territory this year compared to last year.

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Speaker 3: Minister, let's move along. I'm keen to talk about gas.

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Speaker 1: There was mention of gas and energy as well as

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Speaker 1: manufacturing in the budget overnight. What part does the Northern

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Speaker 1: Territory have to play in the nation's energy needs.

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Speaker 2: Well, you know, clearly there's opportunity for the exploration, production

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Speaker 2: of increased exploration and production of gas out of the

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Speaker 2: Northern Territory. And you know, we'd like to see that

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Speaker 2: the Northern Territory and all relevant jurisdictions around Australia apply

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Speaker 2: their part in boosting the supply of gas so that

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Speaker 2: we can also boost the reliability and affordability of gas

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Speaker 2: supplies which will help to underpin the international competitiveness of

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Speaker 2: our manufacturing sector way that is environmentally more efficient.

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Speaker 1: So are there any confirmations about additional gas pipelines from

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Speaker 1: the Beaterloo basin connecting to the rest of Australia, or

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Speaker 1: what exactly are the federal government's plans in this space.

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Speaker 2: Look, look, I encourage you to get my good friend

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Speaker 2: and colleague Keith Pitt and perhaps Angerstyler on your program

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Speaker 2: and they'll be able to take you in some great

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Speaker 2: detail through all of the various components of what we're

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Speaker 2: planning in that regard.

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Speaker 3: Well, we will have them on.

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Speaker 1: We are very fortunate to have them on fairly regularly. Now,

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Speaker 1: I do want to talk about the fact that the

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Speaker 1: budget overnight obviously a lot of the modeling seem to

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Speaker 1: be based on a vaccine. What happens if we don't

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Speaker 1: have a vaccine as soon as the government is predicting.

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Speaker 2: Well, when you say a lot of the modeling, I

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Speaker 2: mean you know you're right. I mean we have made

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Speaker 2: an assumption, based on expert advice, that there will be

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Speaker 2: a vaccine by the end of twenty twenty one in

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Speaker 2: place for MAUS distribution. That is one of many, many,

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Speaker 2: many assumptions in the budge. And you know, in the end,

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Speaker 2: you know, budget estimates are precisely that they're estimates, and

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Speaker 2: they're based on the best avilable information. You never have,

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Speaker 2: you know, one hundred percent certainty about the information in

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Speaker 2: front of you about what may or may not happen

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Speaker 2: in the future. But we believe that right now, based

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Speaker 2: on what we know right now, that is the most

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Speaker 2: realistic assumption. Now, if the information changes, I mean, if

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Speaker 2: the vaccine is available sooner, there will be a positive

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Speaker 2: variation in future budget updates. If the vaccine ends up

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Speaker 2: being available later, there'll be a negative variation in the

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Speaker 2: budget updates. But bearing in mind that there are a

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Speaker 2: lot of assumptions, hundreds and thousands of different assumptions that

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Speaker 2: are made across many different aspects, and it's always swings aroundabouts,

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Speaker 2: and you know, all of that gets reconciled in future

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Speaker 2: budget updates.

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Speaker 1: Now, Minister, Finally, there has been a lot of discussion

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Speaker 1: in the Northern Territory about whether we will lose a

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Speaker 1: seat in the Lower House of Parliament. No doubt you've

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Speaker 1: heard Senator Melandary Cathy and also Senator Sam McMahon pushing

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Speaker 1: quite hard for the Northern Territory to retain those two seats.

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Speaker 1: Do you support the Northern Territory keeping that representation?

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Speaker 2: Well, Senator McMahon is a very strong advocate for the

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Speaker 2: Northern Territory and there's a process currently underway both through

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Speaker 2: the Joint Standing Committee on electrom Others and through our

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Speaker 2: party room to determine the most appropriate position moving forward.

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Speaker 2: Of course, I mean, you know, of course, like in

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Speaker 2: a general sense, you know, the Northern Territory is a

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Speaker 2: very large jurisdiction, you know, which is you know, in

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Speaker 2: need of appropriate representation, and all of that will be

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Speaker 2: properly considered and you can rest assured that Sanata McMahon

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Speaker 2: will be a very very strong voice for the territory

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Speaker 2: to ensure that the right decision is made.

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Speaker 1: Well, we're really hoping so, Finance Minister Mattias Corman. We

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Speaker 1: really appreciate your time this morning. I know it's an

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Speaker 1: incredibly busy day for you. Thanks for having a chat

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Speaker 1: with us.

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Speaker 2: Thank you so much, talk soon.

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Speaker 3: Thank you.

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Speaker 1: You are listening to Mix one oh four point nine

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Speaker 1: three point sixty now if you would like to call through.

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Speaker 1: Following on from that, discussion with Senator and Finance Minister

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Speaker 1: Matis Coleman talking about the budget. We'd love to hear

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Speaker 1: from you this morning. Eight nine four one one oh

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Speaker 1: four nine. Are you a small business or a business owner?

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Speaker 1: How are you feeling following on from those budget announcements

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Speaker 1: overnight and some of the incentives which are in place

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Speaker 1: to try and really keep business moving. Or are you

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Speaker 1: somebody who is who is really looking at employing a

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Speaker 1: young person. Love to hear from you today. Eight nine

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Speaker 1: four one one oh four nine.