NT hit with $2 billion GST cut: treasurer

The Northern Territory government's election promise to balance the books by 2019-20 is looking less and less likely after it was hit with a "two billion-dollar revenue cut". The Commonwealth Grants Commission released its annual GST distribution figures as the nation's treasurers met in Canberra. NT Treasurer Nicole Manison said with 50 per cent of the Territory's revenue coming from the GST, the consequences for the May 9 budget will be devastating.

NT Treasurer Nicole Manison (R) Source: AAP