Eric Abetz (Tasmania, Liberal Party, Shadow Minister for Employment and Workplace Relations) Share this | Link to this | Hansard source

asked the Minister representing the Treasurer, upon notice, on 29 August 2011:

Has the Australian Office of Financial Management contracted for any ‘campaign advertising’ in the 2011-12 financial year; if so:

(a) what is the total cost of advertising;

(b) what is the advertising for;

(c) who authorised the advertising; and

(d) on what media will the advertising appear or has appeared.

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

The Treasurer has provided the following answer to the honourable senator's question:

(a) Development of advertisement: $24,802.52. Placement of advertisement: $111,364.55.

(b) The advertisement was created and placed specifically to raise awareness and educate North American institutional/wholesale investors about the Commonwealth Government Securities (CGS) market. This sector of the offshore investor base is believed to be relatively in-active in Australian dollar denominated bonds. The AOFM has an objective of diversifying the CGS investor base, particularly where there is likely to be interest in the long-end of the CGS yield curve. This supports the announced strategy to issue a fifteen-year Treasury Bond.

(c) The Chief Executive Officer of the AOFM.

(d) The advertisement will appear in three monthly editions of the Bloomberg Markets magazine (prior to December 2011), plus the inaugural annual Bloomberg guide. In addition references to the AOFM (and links to AOFM information) will appear on all Bloomberg terminals on seven dates during 2011-12.