21 Jun 2013

Govt move to tender banking gets Green approval

8:05 pm on 21 June 2013

The Green Party says taxpayers will benefit from a Government move to put its banking contract out for tender.

For the past 23 years the Government's banking has been handled by the Australian bank, Westpac.

Greens' co-leader, Russel Norman, has long been a critic of that arrangement.

Dr Norman says he supports the move to make it just a five-year contract so it will be put out for tender regularly.

He says taxpayers should get a better deal as the regular tendering should provide more competition.

A tender document is due to be released in September or October and the Government is expected to make a decision on the contract by the middle of next year.