Penny Wong (SA, Australian Labor Party, Minister for Finance and Deregulation) Share this | Hansard source

First, I would make the point that the government is establishing this corporation as a body independent of government, to be run by a board of private sector experts. I think that imperative is demonstrated by the personnel whom we have appointed to this point. Investment decisions will be based on a case-by-case analysis of candidate projects, at arm's length from government. The government will obviously be informed by its experience with bodies such as EFIC, which is the Export Finance and Insurance Corporation. The fiscal balance cost reflects the accounting approach associated with such bodies, and I think that is the figure to which you refer. It takes account of administrative costs, expenses associated with concessional loans as well as a conservative allowance made for defaults. Treasury does expect that taxpayers will recoup their funds— (Time expired)