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Parliamentary Questions


Question On Notice No. 122 asked in the Legislative Council on 15 August 2017 by Hon Tjorn Sibma

Question Directed to the: Minister for Environment representing the Minister for Finance
Parliament: 40 Session: 1


Question

I refer to Project Bank Accounts (PBAs) designed for the purpose of providing improved security of payment for subcontractors working on government projects, and ask:

(a) will the Government adopt a policy of providing compensation for those subcontractors who have lost thousands of dollars or, in some cases, millions of dollars, from working on government projects; and
(b) will the Government expand the policy of PBAs to include all government projects valued at over $100 million?
Answered on 12 September 2017

The Department of Finance advises:
(a-b) It would be inappropriate for taxpayers to underwrite the commercial arrangements between parties in the building and construction industry. The Government has previously signalled its intent to introduce broader security of payment reforms, and the scope and timing of those changes is currently being finalised by the Minister for Commerce.