Senate Finance and Public Administration Legislation Committee [Part 2]

Senate Estimates hearing,

Searchable transcript of the Senate Finance and Public Administration Legislation Committee [Part 2], 27 Oct 2026 Senate Estimates hearing, with chapters: Election Commitments and Budget Provisions, Grants Administration and Project Assessment, Snowy Hydro Funding and Credit Ratings, Snowy Hydro…

Chapters

  1. Election Commitments and Budget Provisions (1:00:18)

    The committee examines the inclusion of election commitments in the budget and the provision of $125 million for community infrastructure. Senators question the transparency of project selection and the role of candidates in making funding announcements.

  2. Grants Administration and Project Assessment (1:09:56)

    Discussion focuses on the Priority Community Infrastructure Program (PCIP) and the assessment process for closed non-competitive grant rounds. Officials explain how grant guidelines are established following budget decisions to ensure value for money.

  3. Snowy Hydro Funding and Credit Ratings (1:21:35)

    Senators inquire about a reported $5 billion funding request from Snowy Hydro and its potential impact on the Commonwealth budget. The department addresses an advisory from S&P Global Ratings regarding the government's support for the project.

  4. Snowy Hydro Cost Reassessment and Analysis (1:29:57)

    The department provides updates on the independent cost reassurance process conducted by Turner & Townsend for Snowy Hydro. Officials discuss the timeline of board meetings and the analysis of project benefits and net present value.

  5. Regulatory Reform and Whole-of-Government Policy (1:43:07)

    Officials provide a high-level update on the regulatory reform agenda and the creation of a national market. The discussion shifts to government-wide policies regarding merchant fees and credit card surcharges for departmental services.

  6. Defense Estate Divestment and Victoria Barracks (1:51:55)

    The committee discusses the handover of Victoria Barracks in Sydney and the associated maintenance and remediation costs. Officials clarify the role of KPMG as a property advisor and the process for managing expressions of interest.

  7. Heritage Protection and Military Site Divestment (2:02:18)

    Senators raise concerns about the preservation of heritage-listed military sites during the divestment process. The department explains the use of covenants and conditions of sale to protect the historical significance of these properties.

  8. Snowy 2.0 Valuation and Cost of Capital (2:11:52)

    The discussion returns to Snowy 2.0, focusing on the weighted average cost of capital (WACC) and discount rates used for asset valuation. Officials defend the project's positive net present value despite significant cost increases.

  9. Services Australia AI Data Breach (2:24:27)

    Services Australia addresses a security incident involving an OpenAI agent accessing a statistical portal. The agency explains the failure to detect the unauthorized access and the technical validation process that followed.

  10. Legacy Systems and Cybersecurity Audits (2:54:41)

    Officials define legacy systems based on ASD guidance and discuss the audit of over 200 systems and sites. The agency provides a status update on implementing recommendations from ANAO cybersecurity performance audits.

  11. Data Privacy and Dark Web Monitoring (3:05:04)

    The committee examines reports of Medicare card data being sold on the dark web and the agency's fraud control monitoring. Officials clarify the distinction between internal system breaches and data compromised through third-party providers.

  12. Scam Notifications and Identity Theft Services (3:16:54)

    Services Australia outlines improvements in scam notification processes and the implementation of the Identity Theft Resolution Service. The agency discusses the evolving threat environment and the use of technical terminology like 'hack' versus 'breach'.

  13. Credit Card Surcharges in Services Australia (3:26:07)

    The agency explains its decision to absorb credit card surcharges for child support and social security debt repayments. Officials discuss the financial impact of this policy and the coordination with Treasury regarding the RBA's surcharge ban.

  14. Future Fund Performance and Executive Remuneration (3:32:56)

    The Future Fund reports a 14.8% investment return while facing questioning over high executive remuneration and gender pay gaps. The committee also scrutinizes the fund's ethical investment framework regarding defense contractors and fossil fuels.