Country Liberal Party win in Northern Territory elections after massive swing against Labor

The current government in the Northern Territory has been defeated in the territory's election, after eight years in power.

Labor Chief Minister Eva Lawler addressed the party faithful on Saturday night and revealed she had conceded to Country Liberal Party (CLP) leader Lia Finocchiaro.

"Tonight was a tough night for Labor, a really tough night," Lawler said.

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Lawler not only lost her Chief Minister role, after just eight months in the top job, but lost her seat as well.

"I know Territorians wanted change, we've heard that loudly and clearly," she said.

"As I said, I have wished Lia Finocchiaro all the very best.

"It is a hard job being a Chief Minister in the Northern Territory, but I can also assure Territorians that when we're in opposition, we're not going to be running the Northern Territory down.

"We love the territory, we will be constructive in opposition - I won't be there in opposition, as I said, I've lost my seat, but I know, I know my colleagues that will remain."

Finocchiaro becomes the 14th Chief Minister and the first female CLP leader to hold the position.

In a victory speech to the party faithful, Finocchiaro labelled the election result as a "sign of hope" and vowed to restore the Northern Territory to it's former glory.

"This result represents a turning point in the territory's future," she said.

"Territorians have used their voice to stand up against labor who have taken them for granted for far too long.

"Territorians have stood up against nearly two decades of escalating crime and economy going backwards and the erosion of our once iconic lifestyle but tomorrow is the start of a new day.

"Tomorrow, I will meet with the police commissioner and Chief Executive of Chief Minister and Cabinet to outline the immediate work that must begin to make the territory safe.

"We will do whatever it takes to restore community safety."

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While there's only been about seven per cent of the vote counted so far, there was a 13.8 per cent swing, on a two-party preferred basis, to the CLP.

Approximately 85,000 Territorians had already had their say before polling booths opened on Saturday in sweltering temperatures.

Both parties had the territory's crime rates at the heart of their campaigns, with each leader promising to tackle the surge.

Lawler has promoted her snap curfews on Alice Springs as part of her "tough love" stance on crime while Finocchiaro claimed the chief only has "band aid solutions".

According to the NT Treasury's assessment of each party's pre-election commitments, Labor's measures are set to balloon net debt to $220 million by 2027-28.

The Country Liberals are set to grow debt to $96 million in the same time.

Labor has held government in the territory for eight years, starting with Michael Gunner, who quit after the pandemic.

His successor, Natasha Fyles, resigned in December last year after just 18 months in the role when it was revealed she had undisclosed shares in a mining company.

Lawler, a former school principal turned Drysdale MP, then took helm of the party.

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The Country Liberals are campaigning that "it's time" for a change to convince voters to swing their way.

The party formerly held power for a nation-leading 23 years from the territory's self-governance in 1978 until 2001, when they were voted out.

They returned to government in mid-2012 before being voted out in mid-2016 in a sensational defeat that saw the party reduced to just two seats.

The party has since clawed its way back and gained momentum this election, which Finocchiaro has lauded as a "turning point" for the territory.