Business

NT vows budget will create jobs

NT Treasurer Nicole Manison says the Territory's budget will invest in generational change. (AAP)

The Northern Territory government says its budget will create jobs and offer the region a brighter future.

The Northern Territory government has promised its upcoming budget will create more jobs, attract more people and build a brighter future for all Territorians.

Treasurer Nicole Manison has launched the countdown to the May 1 financial blueprint ahead of a meeting in Melbourne on Thursday with her state and federal colleagues.

Ms Manison says despite the toughest economic conditions in Territory history, this year's budget will invest in generational change.

"We know jobs are the key to building the Territory - a good job will keep people here, and a good job will attract people here too - and Budget 2018 will directly create and support thousands of jobs," she said.

"Attracting more people to make their home and stay in the Territory means better services, a stronger retail sector, cheaper costs of living and more opportunities.

"And to make the Territory an attractive and prosperous place in invest, we must do the work necessary to create and improve opportunities for all Territorians, from our very youngest to our most disadvantaged, from our most remote communities to our largest cities and towns."

Ms Manison said this year's budget had been hit hard by a $2 billion cut in the Territory's share of GST revenue despite her mid-year report in November showing some signs of improvement.

In that report, the NT deficit for 2017/18 was tipped to come in at $1.1 billion or $245 million lower than originally forecast when the budget was handed down in May.

The treasurer said the Territory would continue to fight for a better deal from the commonwealth and for more private investment.

"We will fight for every dollar we can, and continue to make the right decisions to create more jobs, attract more people and invest in the Territory's bright future," she said.

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