FLEET SA

99 Mr HAMILTON-SMITH (Waite—Leader of the Opposition) (30 September 2008). With respect to the department's long term borrowings of some $218 million in 2008-09:

(a) what do these borrowings relate to;

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

(c) from 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 30 June 2008, the weighted average interest rate for these borrowings was 6.58 per cent with maturity dates ranging from 6 November 2008 to 6 June 2011.

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