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Commission of Audit recommends outsourcing the mint

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In a recent article, Peter Martin, Economics Editor for the Age, reviewed a number of recommendations from Abbott’s Commission of Audit to outsource and privatise a range of government services. The Commission of Audit has recommended that the services of the mint be outsourced to a private contractor. It wants the government to go further and consider privatising Note Printing Australia where the potential risks are significant, warns Martin. NPA runs the factory in Melbourne that churns out orange-pink $20 notes and green $100 ones.

The commission wants the government to consider outsourcing parts of its massive payments system, the one that processes $400 million in payments each day for Medicare, Centrelink and the Pharmaceutical Benefits Scheme.

The new owner could profit even without running the risk of printing extras. It would gain an awful lot of knowledge while manufacturing the apparently unforgeable high-tech notes, knowledge that would be useful if it or its associates had a business on the side. Martin doesn’t necessarily believe that either of these things would happen, merely that they are risks the Commission of Audit appears not to have considered. And they are far from the most serious. The commission wants the government to consider outsourcing parts of its massive payments system, the one that processes $400 million in payments each day for Medicare, Centrelink and the Pharmaceutical Benefits Scheme. Read more: http://www.canberratimes.com.au/comment/in-outsourcing-both-sides-of-the-coin-need-viewing-20140502-zr35q.html#ixzz30vXER3Om
May 7, 2014
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