Independent economic analysis done for the Scientific Inquiry into Hydraulic Fracturing in the Northern Territory has found that the Territory economy would benefit by up to $17.5 billion over the next 25 years and create 13,611 Territory full time jobs if Michael Gunner’s gas ban was removed.
“ACIL Allen’s report should be compulsory reading for all Territorians worried about jobs and the prospects for their kids and grandkids,” Country Liberals Senator for the Northern Territory, Nigel Scullion said.
“The independent economic analysis by the Gunner Government’s own fracking inquiry has found that over 13,600 full time Territory jobs would be created and $17.5 billion to the Territory economy, if Michael Gunner took the hand brake off the economy.
“That’s an additional 524 new Territory jobs and $674.4 million in opportunities for our small businesses, that this ban is costing the Northern Territory every year.
“Territorians are increasingly concerned about the impact the Gunner Government is having on our economy. You would think this lot would have learnt about knee-jerk bans after the Live Cattle Ban fiasco, but unfortunately Michael Gunner and his government seem to be putting their fear of the green lobby above the interests of Territory jobs.
“No wonder the Northern Territory has dropped in the most recent Commsec State of the States report, down another spot to the second worst performing economy in the country.
“As Prime Minister Malcolm Turnbull has said – Australia needs more gas, the Territory needs more gas and the Northern Territory needs more jobs. This ban makes absolutely no sense and Labor needs to send a clear signal of the Government’s commitment to an ongoing gas industry in the Territory.
“It’s time to stop the inaction which is costing the Territory economy much needed jobs and business opportunities and end this gas ban,” Senator Scullion said.