Mr Hockey, when do you expect the government will stop paying funds out of this fund?
MINISTER HOCKEY: Well it will take some time. Claims will be processed as they would normally be processed and that’s a very important point. That’s why we brought in the expertise of the other insurance companies. The government doesn’t have that expertise, for example when there was a collapse of a bank in Victoria, the government at the time backed it into a commonwealth bank. We don’t have any commonwealth insurance company so we rely heavily on the industry to process the claims. Now those claims are, will be worked out as the companies can. Some events may not occur for a few years’ time, there may be some mechanism that can be used to commute those claims. We’re exploring all of that. PRIME MINISTER: Two more. PRIME MINISTER: Philip Coorey. JOURNALIST: Considering you don’t know the full extent of it yet, are you confident that $500 million will be enough? PRIME MINISTER: No well what we’re saying is at least. And that’s all you can. I mean we are not trying to do any fiddle on
