The independent John Langoulant 'Plan for Budget Repair: Final Report', the  Government's official response to this report and the results from the 'Root and Branch Review' into Department expenditure will be released by the Chief Minister and Treasurer then, it was announced today.

The report is a significant body of work and will outline the short, medium and long-term pathway to a sustainable budget and address the fiscal challenges that have been decades in the making.

Budget repair will ensure Government can continue to invest in job-creating projects, generational change and safer communities.

The Government has already announced about 300 public service positions will be axed as the government tries to repair its budget.

The cuts are part of a staffing cap that the government wants to set at last fiscal year's average staffing level of 21,118 after it had grown to an average 21,477 by the December quarter.

The public service is by far the Territory's biggest employer and growth it's growth over the last two decades had not been in line with population growth.

The NT government is  already borrowing to meet operational costs including staff wages.

The Budget Repair report and Root and Branch work will help form Budget 2019 which will be released on May 7.

Budget 2019 will also reflect the application of new Australian Accounting Standard AASB 16 (announced by the Board of Treasurers last year), which will result in a book entry increase to reported levels of gross and net debt for every state and territory, due to the change in accounting treatment of non-financial leases.

This reflects a change in reporting only and not an increase in the Territory's real borrowings. There will not be an actual worsening to the fiscal position.

According to the Board of Treasurers' announcement, "while an increase in reported debt levels will be apparent under the new standard, there will be no change in the economic or legal circumstances of the States and Territories as a result of applying AASB 16".

Treasurer Nicole Manison said: "Our number one priority is creating local jobs and a sustainable budget and path forward allows us to continue doing this.

"When we came to government we inherited an $876 million budget deficit from the CLP and a declining economy after the INPEX construction.

"This situation was made much worse when the Commonwealth government legislated a brutal $500 million in cuts from our annual GST revenue.

"To get our budget to a sustainable position, tough decisions will be made - however, we will not take the CLP approach and slash and burn, sack hundreds of teachers and nurses and jack up the price of power by 30%.

"We will continue to support Territorians by balancing investing in jobs, children, police, nurses and teachers with getting back to a sustainable budget position - and we will continue our plans for generational change."

Meanwhile, it was announced on the weekend the NT Government has secured a $550 million investment from the Federal Government to continue to deliver remote housing in the NT.

The NT Government will work with the Federal Government and Land Councils to continue the delivery of remote housing.

The deal will see the Federal Government add $550 million to the NT Government's investment of $1.1 billion for remote housing. In return, the NT Government will accept responsibility for remote housing leases until 2023.

The agreement means housing work - including new builds, extensions, upgrades and refurbishments - can continue.

This agreement formalises a ground-breaking collaboration between governments and Aboriginal people from the Northern Territory, with the incorporation of Local Decision Making at the community level and inclusion of the four NT Land Councils.

Since coming to Government two-and-a-half years ago, more than 1350 homes have been built or fully upgraded in remote communities - this has been done in close consultation with local Aboriginal people in remote communities, creating local jobs and putting us on track to deliver more remote housing than ever before.

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