SCHOOL BANK ACCOUNT REVENUE

In reply to the Hon. I.F. EVANS (Davenport) (26 June 2013).

The Hon. J.W. WEATHERILL (Cheltenham—Premier, Treasurer, Minister for State Development, Minister for the Public Sector, Minister for the Arts): I have been advised of the following:

As I advised the committee on the day, the government continues to pay interest on revenue raised by schools. At the time of implementation of the decision to remove interest earned on unspent state funded balances in school and preschool bank accounts, the Department for Education and Child Development budgeted to receive $7.4 million per annum (indexed) across the forward estimates for this component.