Media Release

Transparency and accountability in executive remuneration for government businesses

MC 3/17

Senator the Hon. Mathias Cormann
Minister for Finance
Deputy Leader of the Government in the Senate
Senator for Western Australia

18 February 2017

The Government is committed to increased transparency and accountability in executive remuneration for its government business enterprises. 

I have written to all Chairs of government business enterprises to remind them that in setting executive remuneration they needed to be conscious of community expectations in relation to remuneration practices for government owned businesses as well as their requirements to attract effective leaders for their organisations in a competitive market environment.

They have also been asked to provide greater transparency of their executive remuneration arrangements in their future Annual Reports.

All government business enterprises have been asked to make public all relevant information in relation to its executive remuneration arrangements for the 2015-16 reporting period.

[ENDS]

Media Contact(s): 

Karen Wu - 0428 350 139