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The state government says all VicRoads employees will continue to be employed under the partial privatisation of the administrative body.
"All staff have been offered a position with the joint venture or the Department of Transport on terms and conditions that are no less favourable overall than their current terms and conditions of employment," a government spokesperson said in a response to questions.
"We've (created) more than 120 new jobs to oversee the partnership, support the IT modernisation process and bolster the Government's road safety role."
The government says there will be no increase to fees and charges as a result of the Joint Venture, with continued ownership of VicRoads by the government ensuring control over regulation and policy, data and privacy provisions and pricing of essential fees, with information to remain secure and stored in Australia.
EARLIER: VicRoads will be partly privatised for a period in a bid to generate $7.9 billion for the state.
A consortium of Aware Super, Australian Retirement Trust and Macquarie Asset Management will run licensing and registration for the next 40 years, while the state government maintains ownership of the service.
The move is the result of a 15-month modernisation program that started last year. Funds raised will go into the Victorian Future Fund to manage pandemic debt.
A VicRoads customer hub is based at the GovHub in Ballarat while the VicRoads Testing and Inspection Centre remains at Learmonth Road in Wendouree.
The state government will continue to manage data, privacy provisions and essential fee prices, and will regain control of all operations after the partnership ends, Treasurer Tim Pallas says.
"This is not a privatisation in anybody's language," Mr Pallas told reporters on Friday.
"We're always looking to see how we can drive better services, better performance, but we will never divest the ownership of assets."
Independent integrity bodies, including the Victorian Ombudsman, will still provide oversight.
Under the changes, learners and probationary licences as well as online testing will be made free.
Drivers who have not incurred demerit points or committed road safety offences in the three years prior to their licence expiring can also receive a 25 per cent discount on their licence renewal.
"We're embedding a culture of road safety in Victoria," Road Safety Minister Ben Carroll told reporters.
Australian Associated Press
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