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Speaker 1: Joining us live on the line the Member of for

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Speaker 1: Nama Jira, also the Shadow Spokesperson for Treasury for the

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Speaker 1: COLP Bill Yan, Good morning to you.

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Speaker 2: Bill, Good morning Katy. Here are you going?

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Speaker 1: Yeah? Really well now, Bill obviously the opposition leader just

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Speaker 1: delivering her budget reply speech and we are going to

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Speaker 1: speak to her more extensively tomorrow morning. But you guys

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Speaker 1: have also one of your key economic and population growth

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Speaker 1: policies as part of that budget reply. Talk us through

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Speaker 1: the announcement.

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Speaker 2: Yeah, no, and as look, it's great news for territories, Kady.

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Speaker 2: It's the Homegrown Territory Grant. So we've announced that this morning.

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Speaker 2: And what this does is we're trying to and we

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Speaker 2: know that it'll stimulate building growth and population growth here

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Speaker 2: in the territory. Our new build numbers here in the

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Speaker 2: territory I've sadly been falling off a cliff now for

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Speaker 2: a number of years and at the lowest point in

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Speaker 2: recorded history. So what we've announced today with the Homegrown

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Speaker 2: Territory Grant is that the first home builds the new

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Speaker 2: homes they can receive a fifty thousand dollars grant with

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Speaker 2: no cap on bill price. Of course, of course, boosts

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Speaker 2: construction activity and it is also backed in by the

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Speaker 2: construction sector. Ten thousand dollars grant with no cap on

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Speaker 2: the purchase price for existing homes. This is the first

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Speaker 2: first home buyers and the fresh new Home grant, which

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Speaker 2: is a course in Australian first and this is for

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Speaker 2: anyone who wants to build a new home and live

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Speaker 2: in it will receive a thirty thousand dollars grant with

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Speaker 2: no cap on the bill price. But there's some cave

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Speaker 2: it's of course behind this kdie. If you build a

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Speaker 2: house or you buy a house, you have to live

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Speaker 2: in it for twelve months. So we're trying, we're looking

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Speaker 2: and we know that we'll break that cycle of the

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Speaker 2: rental cycle. So this will provide assistance for those renting

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Speaker 2: at the moment maybe to get into their first house

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Speaker 2: and give them a little bit of assistance and that

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Speaker 2: leg up. And we're having to double the amount of

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Speaker 2: builds here in the territory over this period. So we've

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Speaker 2: allocated twenty million dollars that straight up yeap as part

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Speaker 2: of our budget commitment. So it's great news for the territory,

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Speaker 2: great news for territorians, and I said it will stimulate

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Speaker 2: our building growth here in the territory. That said, also

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Speaker 2: provided that much of their decisions for people to get

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Speaker 2: into the first home quicker and put down roots and

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Speaker 2: stay in the territory, but also attract people.

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Speaker 1: I know you did mention this, but so is it

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Speaker 1: just for is it just for new builds or is

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Speaker 1: it also applying to existing homes?

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Speaker 2: No? No, So first home buy is of an established home.

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Speaker 2: So if you're a first home buyer and you want

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Speaker 2: to buy a home that is already established, you'll get

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Speaker 2: to tend your eligible for ten thousand dollars grant to

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Speaker 2: buy that home, and there's no cap on the purchase price.

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Speaker 2: You be home anywhere between three hundred thousand two men,

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Speaker 2: and if you'd afford that sort of place, we'll go

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Speaker 2: for it. But it's available for existing homes, but of

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Speaker 2: course that number is much lower. We're focusing on the

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Speaker 2: building sector, so that's why the incentives are higher for

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Speaker 2: building a new home here in the territory. So it

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Speaker 2: increases the economy across the territory overall, So the building

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Speaker 2: sector and all the people who supply the building sector,

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Speaker 2: and of course all the people who work in that sector.

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Speaker 2: So it's a win win for everybody.

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Speaker 1: Well, look it sounds like a really good thing. I

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Speaker 1: know you've touched on there that it's going to be

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Speaker 1: twenty million dollars? Is what's going to be the cost

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Speaker 1: associated with this? I mean it is a lot of money.

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Speaker 1: There are some big announcements that the colp are making.

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Speaker 1: Where are you getting this money from?

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Speaker 2: Well, we're looking, of course at the budget and where

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Speaker 2: it sits now. We figure that twenty million dollars is

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Speaker 2: a really small price to pay for the growth and

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Speaker 2: the stimulation for our economy here in the territory. Overall,

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Speaker 2: I think twenty million dollars is a drop in the

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Speaker 2: ocean when you look at the longer term benefits of

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Speaker 2: increasing our population, increasing our building sector activity, and then

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Speaker 2: also increasing all those supplies into that building sector. So

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Speaker 2: all that that twenty million dollar investment will will there's

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Speaker 2: probably ten times as much when you look at the

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Speaker 2: bigger picture of what will be then spent within that

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Speaker 2: sector across the territory. So we'll straight away the territory

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Speaker 2: will get returns there does I mean.

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Speaker 1: You mentioned the construction industry, So does the plan have

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Speaker 1: the backing of you know, of the various different industry groups.

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Speaker 2: Yes, it does. You know, the construction industries across the

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Speaker 2: territory have been aware of our planning around this, and

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Speaker 2: we've been talking to them in the lead up to it,

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Speaker 2: and of course they're one hundred percent behind it because

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Speaker 2: they're hurting as well the moment, codey with a lack

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Speaker 2: of construction in new homes and new builds here in

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Speaker 2: the territory. They've been suffering now for years and years.

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Speaker 2: So this is a shot in the arm that the

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Speaker 2: construction indust needs and the building industry needs to really

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Speaker 2: get moving again and start drawing that economic growth here

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Speaker 2: in the territory.

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Speaker 1: Now, mate, we are going to catch up with Leofinocchio

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Speaker 1: tomorrow morning and get some further details on this budget reply.

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Speaker 1: But what can you tell us so far? I understand

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Speaker 1: that it's been a few things ruled out, like costs

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Speaker 1: of different you know, different things going up. I understand

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Speaker 1: there's been a few different you know, sweetness, I guess

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Speaker 1: you might say, like ruling out sort of fishing licenses and.

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Speaker 2: REDGI Yeah, well that's part of a lifestyle here in

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Speaker 2: the territory, Katie. No one wants boating licenses. No one

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Speaker 2: wants boating REGI. No one wants to have to pay

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Speaker 2: for fishing licenses. And these are things that we're just

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Speaker 2: we're outfront, upfront now telling territories this is not something

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Speaker 2: that we're even considering should we come in the government.

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Speaker 2: And there's a number of other things that we're announced

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Speaker 2: today as well, Katie to our taxation reform, our income

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Speaker 2: tax reform all for small business, increasing that from one

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Speaker 2: point five to two point five. If you look at

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Speaker 2: the last thirs and years, wages have gone up for

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Speaker 2: small business, but that cap has remained at one point

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Speaker 2: five mils. So increasing that two point five mil stimulates,

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Speaker 2: of course a small businesses which are the backbone of

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Speaker 2: our economy here in the territory. So again that allows

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Speaker 2: them to employ more people and gives them more business

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Speaker 2: confidence and certainly moving into the future to grow and

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Speaker 2: build their businesses. So the savings they make in income tax,

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Speaker 2: for instance, they can use that to maybe employ more people,

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Speaker 2: buy new equipment, to expand the business and provide better

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Speaker 2: services to territory. And so yeah, there's been a lot

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Speaker 2: of announcements today in leaders but we probably have enough

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Speaker 2: time to go to the wall and that's for sure.

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Speaker 1: Well, mate, I'll make sure that I go through them

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Speaker 1: this evening or this aarvo once we get off air,

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Speaker 1: and then I'll catch up with her tomorrow. Bill Yan,

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Speaker 1: good to chat with you this morning, mate, I appreciate it.

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Speaker 2: Thanks, Catie, you have a great day. You two