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Tuesday, 7 February 2017
Page: 167

Australian Submarine Corporation

(Question No. 39)

Mr Champion asked the Minister representing the Minister for Defence, in writing, on 17 October 2016:

To ask the Ministers listed below (question Nos. *38 to *39) -

*38 MR CHAMPION: To ask the Minister representing the Minister for Finance.

*39 MR CHAMPION: To ask the Minister representing the Minister for Defence.

At any stage since September 2013 has the Minister's department

(a) investigated any options to privatise the Australian Submarine Corporation (ASC); if so, what was the outcome,

(b) provided advice to the Government regarding the possible privatisation of the ASC, and

(c) considered the impact of a possible privatisation of the ASC on its employees.

Mr Pyne: The Minister for Defence has provided the following answer to the honourable member's question:

As provided in the response to Question Number 41, the Department of Finance (Finance) conducted a strategic review of ASC Pty Ltd (ASC) to consider future options for ASC to best meet the Government's shipbuilding requirements.

The strategic review was conducted as part of the normal course of the Minister's shareholder oversight role to ensure that the assets Finance manages on behalf of all Australians continues to support broader Government policy objectives. This is consistent with the Commonwealth Government Business Enterprise Governance and Oversight Guidelines.

The impact of a restructure of ASC on its employees was considered as part of the strategic review. Employees' terms and conditions will not be directly affected by the structural changes to ASC.