I am publishing this because almost every investor magazine and even several banking institutions have advised against investing in the Northern Territory for several years now.
But although they were right at the time based on the facts and figures I have shown you, (in my previous post) they are generally wrong about the reasons and deeply wrong about how to fix it. Even more so the next 3 years will see the start of our next growth period. So smart investors are starting to look now, they aren’t all buying yet (except for Gina) but they are looking.
The reasons in my educated opinion why we fell
The previous NT Government/s are mainly to blame. Due to massive austerity measures they enforced, we have seen a rise in indigenous mortality rates and a massive drop in services to all Territorians. Our federal government cut our budget by over $2 Billion dollars over the next four years due to our population deserting us.
So Why else did they do that?
Firstly we do not earn our pocket money. That’s what I call the federal funds provided for the NT to ensure that the local population remains alive. It is a moral obligation that the federal government shares with our neighbouring states and it is the main reason the NT is not ready for statehood (yet!).
Secondly we don’t spend it well. Previous Governments as publicized have lost or miss-appropriated several hundred million dollars of federal grant funds. This was the reason many during our local elections were seeking an ICAC (Independent commission against corruption). The Gunner government that discussed the $3million dollar proposal, now advised that it may happen by 2018.
After huge breaches of the Public’s trust and the sale and diversion of several public assets, we have every reason to be upset.
Thirdly our Local government failed to negotiate fair and equitable terms on a major project and have since also allegedly provided false and misleading evidence and advice to several major local business firms that has not only threatened the viability of their assets but also put at risk hundred of jobs.
So what can be done to re-invigorate our City?
Firstly we are not just an economy based on Houses and Holes! That is a damaging lie that the economists need to be educated on.
So Waterutalking about?
The Northern Territory although dry for 8 months of the year has about a third of the nation’s rain fall during the wet-season. The creation of infra-structure to capture and transport this resource will be in the next 30 years a massive feat and achievable.
Water and feeding our regional neighbours
It is estimated and is clearly known that the food requirements due to population growth of our regional neighbours will double by 2050. Smart Australian investors and foreign nationals have already started to buy Northern Territory pastures.
The NT’s economy both now and in the future will be based on the following trends and the major players will switch periodically to meet international trends abroad.
Major employment in the NT over the next 32 years will be in
Tourism ( both cultural and sporting)
ATSI Health, housing and services
Public Services- Health/nursing, Police, fire and emergency services
Manufacturing (chemicals, compounds, robotics, energy and batteries)
Remember if you want to help me help you, please share your voice and vote for Sam4Rishardson this coming 26th August 2017. I have plan's for now and the future.
Note and Disclaimer :
Written and Authorized as an opinion piece by by Sam Wilks. The views included may not be those of others mentioned in the article but are those of Sam Wilks. However none of the views are to be accepted as financial advice. If you have other idea’s feel free to comment below. Idea’s and differing opinion is recognition of a free and just democratic society. A Society I am happy to live in. Please however try not to be abusive or discriminative, you may be. But if I feel that your opinion may be harmful or is reported as being harmful, I will delete it.