Changes to today’s Government Trading Enterprises (GTEs) and the introduction of a new transitional framework have been introduced into Parliament to produce a new and upgraded Government Trading Enterprises Bill.
The new Bill has been hailed as part of the Government’s continuing efforts to reform the public sector.
In a statement, the Treasury said GTEs provided some of the State’s most critical functions for the community, including the provision of essential services, the facilitation of trade, and the development of land for both commercial and residential uses.
“The new legislation will provide GTEs with greater clarity in their relationship to Government,” the Treasury said.
“It also supports GTEs in improving strategic documentation, quality information-sharing and demonstration of outcomes they have agreed to deliver.”
It said the purpose of the GTEs had also been clarified in the legislation, ensuring their boards understand their role more broadly as well as Government’s expectation of them.
Premier and Treasurer, Mark McGowan said the Bill was a significant, long-overdue reform that would protect the long-term interests of the State.
“The reforms include the Government’s expectations of GTEs to advance the public benefit, including through the provision of financial and non-financial returns on taxpayers’ investment through the GTEs,” Mr McGowan said.
“The Bill is reasonable and responsible, and clarifies the balance between commerciality and broader policy objectives, recognising that providing returns to the community is the paramount duty of a GTE.”
