NT: NT Govt raises no taxes in Budget
The Northern Territory government will increase spending in health, education and capitalworks without raising taxes in its first Budget for a full year.
The budget delivered today will provide some tax breaks calculated to stimulate thehousing and business sectors.
These include increasing the stamp duty concession threshold for first home buyersfrom $80,000 to $125,000 and reducing the payroll tax rate from 6.5 to 6.3 per cent.
The deficit for 2001-02 has been reduced by $22 million to $117 million, followingthe $139 million estimated in the mini-budget in November last year.
The capital works cash allocation is up 29 per cent on last year to $333 million, healthspending is up by four per cent to $527 million, and funding for employment, educationand training is up by three per cent to $505 million.
Chief Minister and Treasurer CLARE MARTIN says the capital works allocation is thelargest investment in territory infrastructure since self-government in 1978.
She's told parliament the increase will further promote economic development and providea much-needed stimulus to the territory's construction industry.
AAP RTV rmg/jmt/rp
KEYWORD: BUDGET NT (DARWIN)
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