Whyalla Steelworks

The Hon. V.A. TARZIA (Hartley—Leader of the Opposition) (14:12): My question is again to the Premier. Will the government utilise the $50 million that it holds for GFG Alliance to provide bridging loans or other financial assistance to creditors?

The Hon. P.B. MALINAUSKAS (Croydon—Premier) (14:12): The $50 million to which the Leader of the Opposition refers is a fund that has been sitting in the South Australian budget ever since the ownership of the steelworks was transferred from Arrium into administration and then over to GFG. That $50 million has been set aside for a very explicit purpose, which is to help fund the transformation of the steelworks in the way that we know is required to set it up for a sustainable future. That $50 million was allocated under the former Weatherill government when the minister for transport, energy and mining was also the Treasurer. That was then sustained throughout the life of the Marshall Liberal government, and it remains in place under this government.

The purpose of the $50 million was linked to a specific criterion, a criterion that has not yet been met by GFG. Quite appropriately, those funds will not be expended until such time that GFG does so, or indeed the plans for the funds are altered.