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Wednesday, 29 April 1987
Page: 2033

(Question No. 1618)

Senator Short asked the Minister representing the Treasurer, upon notice, on 18 February 1987:

(1) How much is the fee to be paid to Baring Quantitative Management Limited to advise on the management of the Commonwealth debt.

(2) What is the period of the consultancy.

(3) Was the contract tendered.

(4) Was the Department of the Treasury the only department involved in arranging this consultancy.

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

(1) Up to #Stg41,000 (about $A95,000) plus travel expenses as agreed between the parties.

(2) The terms of the consultancy agreement were finalised on 17 September 1986. The project was originally expected to be completed by about mid-January but it has been agreed to extend the completion date which is now expected to be in April or May. The extension accommodates extra time needed to compile data, and to undertake additional analytical work.

(3) No; under the Finance Regulation it is not necessary to call tenders for consultancies. Enquiries made by the Treasury suggested that the particular service offered by Baring Quantitative Management Limited is not readily available from other sources.

(4) Yes; although the terms of the consultancy agreement were prepared in consultation with the Attorney-General's Department.