Development fund dumped to pay for mounting debt

2595 Robyn Lambley #2 OKLETTER TO THE EDITOR

 

Sir – The CLP’s Infrastructure Development Fund is to be dumped by the government.

 

This was a fund originally set up in 2016 with $300m from the sale of TIO, designed to attract infrastructure investment into the NT.

 

Gunner took $100m out of the fund when he came to office. He and his Treasurer Nicole Manison were always going to dump the fund.

 

Neither of them ever valued or even comprehended what the fund was set up to achieve.

 

Under Ms Manison the fund made just one investment in two years, into a water company without a water licence.

 

This has cost Territorians $10m that cannot be recouped, according to the Treasurer.

 

The administration costs of the fund were more than a $1m per year.

 

There is no doubt Labor will need every cent they can get their hands on to get them through to the next election.

 

In the meantime, businesses are going broke and more people are out of work.

 

Gunner has clocked up a debt of $7.5 billion, from just over $1m in 2016.

 

Robyn Lambley MLA (pictured)

Independent Member for Araluen

 

 

 

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  1. Psuedo Guru
    Posted November 2, 2018 at 3:49 pm

    Politicians and benefit recipients spend workers’ hard earned taxes.
    That’s democracy – a recipe for losers.

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