The Fiscal Integrity and Transparency Act requires the public release of a Pre-Election Fiscal Outlook Report within 10 days of the issue of a writ for a Northern Territory general election.

In accordance with this requirement, the Report was released on 18 August 2016.

The Report takes into account non-policy changes and policy decisions made or commitments entered into since the 2016-17 Budget and includes:

  • the preliminary unaudited outcome for 2015-16;
  • updated projections for the 2016-17 Budget and 2017-18 to 2019-20 Forward Estimates;
  • an update on the Territory’s economy;
  • a statement of risks and contingent liabilities; and
  • a set of financial statements for the general government and non financial public sectors.

In addition, as advised in the Requirement to Release Pre-Election Fiscal Outlook Report (docx, 261kb) published on the Treasury website on Monday 8 August, and consistent with past practice, the Under Treasurer has offered to both major parties to provide an assessment of whether the net cost of their election commitments would have a material effect on the estimates included in the Pre-Election Fiscal Outlook Report. 

The timing of the assessment is as follows:

  • a summary of expenditure and revenue pertaining to 2016 election commitments to be provided to Treasury by no later than 1pm on 22 August 2016; and
  • if adequate information is provided for an assessment to be made, this will be completed and released publicly by 1pm on 25 August 2016.

Given the limited time available to undertake the assessment, no comment will be made on the estimates of expenditure and revenue except where they are demonstrably unachievable or are unlikely to be implemented within the timeframes outlined.

The Pre-Election Fiscal Outlook Report (pdf, 376kb) is available for download.