Mr LUGG - 1998-11-25
I understand that the NT government uses a private sector bank to conduct its banking business. Is the minister able to advise the House on the arrangements that currently apply?
ANSWER
Madam Speaker, the Northern Territory government commenced using private banking services in 1986. We were the first jurisdiction in Australia to do so. Since then, Westpac has been providing banking and similar services to the Northern Territory government. That arrangement has been successful. It has now been adopted by other governments around the country. The current arrangements come to an end with Westpac at the end of June next year. It is proposed that during 1999 the government will tender out its banking services so that we can test the current market, take advantage of the modern technology, and see what is on offer in the broader banking sector in relation to the provision of services to government.
We intend to extend Westpac’s arrangements until the end of 1999 in order to overcome any difficulties that might occur in relation to the Year 2000 problem and they, of course, will be paramount in relation to the tendering arrangements that we will be putting in place.
It is proposed that the new banking arrangements that will flow from the tendering process during the course of 1999 will come into place on 1 January 2000.
ANSWER
Madam Speaker, the Northern Territory government commenced using private banking services in 1986. We were the first jurisdiction in Australia to do so. Since then, Westpac has been providing banking and similar services to the Northern Territory government. That arrangement has been successful. It has now been adopted by other governments around the country. The current arrangements come to an end with Westpac at the end of June next year. It is proposed that during 1999 the government will tender out its banking services so that we can test the current market, take advantage of the modern technology, and see what is on offer in the broader banking sector in relation to the provision of services to government.
We intend to extend Westpac’s arrangements until the end of 1999 in order to overcome any difficulties that might occur in relation to the Year 2000 problem and they, of course, will be paramount in relation to the tendering arrangements that we will be putting in place.
It is proposed that the new banking arrangements that will flow from the tendering process during the course of 1999 will come into place on 1 January 2000.
Last updated: 09 Aug 2016