Whyalla Steelworks

Mr TEAGUE (Heysen—Deputy Leader of the Opposition) (15:03): My question is to the Premier. What impact will the Whyalla Steel Works (Charge on Property) Amendment Act have on other secured creditors, and when were they consulted?

The Hon. P.B. MALINAUSKAS (Croydon—Premier) (15:03): First and foremost, the amendment that was made in the parliament this morning—and I thank the opposition again for their support to facilitate that—puts in place the ability for the state to take the action that has since transpired. The principal impact that will have on creditors will be, of course apart from the obvious fact it is in administration, that there is a stabilisation of the business that we think in the long run will be to their benefit.

We did not obviously engage with other creditors about our legislative plans because that was only decided and confirmed by the cabinet yesterday and then confirmed and decided by the parliament today. That, of course, doesn't allow for other creditors to be made aware of the state government's plans, because to make them aware of those plans would be to make other people aware of our plans in a way that would potentially compromise the plan itself, so that would of course not be prudent.