TREASURY AND FINANCE DEPARTMENT

243 Mr HAMILTON-SMITH (Waite—Leader of the Opposition) (23 October 2007). With respect to the Department of Treasury and Finance's short and long term borrowings of some $235 million, as detailed in the 2007-08 Budget Papers:

(a) what do they relate to;

(b) what are the terms of the borrowings, including the interest rate and the maturity date; and

(c) whom are the borrowings with?

The Hon. K.O. FOLEY (Port Adelaide—Deputy Premier, Treasurer, Minister for Industry and Trade, Minister for Federal/State Relations):

(a) I am advised that the borrowings are for the purchase of motor vehicles by Fleet SA for the government’s passenger and light commercial motor vehicle fleet.

(b ) As at 1 July 2007, the weighted average interest rate for these borrowings was 6.17 per cent with maturity dates ranging from 6 July 2007 to 7 June 2010.

(c) The borrowings are with the South Australian Government Financing Authority (SAFA).