Whyalla Steelworks

The Hon. D.G.E. HOOD (15:11): I seek leave to make a brief explanation before asking a question of the Leader of the Government in this chamber about the Whyalla Steelworks and GFG.

Leave granted.

The Hon. D.G.E. HOOD: As I am sure the government would acknowledge, the opposition has asked multiple questions over many months, especially in the House of Assembly, where the responsible minister is and which therefore would be the appropriate place to ask most of the questions about the Whyalla Steelworks and GFG. In particular, we were focused on its financial solvency and its status to continue trading in a solvent manner, as has been the Hon Mr Pangallo, I should point out as well.

We have done so in order to establish the viability of the steelworks and GFG and the government's position, as I think all of us could see—that is, government, opposition and crossbench—the potential for another significant financial hit to the state comparable at least in monetary terms to the infamous State Bank disaster. My questions to the Leader of the Government are:

1. When did the South Australian government first become aware of and publicly acknowledge the severity of GFG's financial troubles?

2. Is it the government's expectation that all of the creditors will receive their payments and, if so, in full—that is, past and present?

3. Does the government have an expectation of receiving the outstanding funds due back to South Australian taxpayers that I understand are in the order of tens of millions of dollars, and if they do have an expectation of receiving that return to them in full, when is that expected?

The Hon. K.J. MAHER (Minister for Aboriginal Affairs, Attorney-General, Minister for Industrial Relations and Public Sector, Special Minister of State) (15:13): I thank the honourable member for his question and his concern for and interest in what is a very big part of the South Australian economy and indeed a very important part of the Australian economy. In relation to payment of creditors, I think I will refer the honourable member to an answer I gave to his colleague earlier today: that is a process of administration. The point is if it is to be a going concern, which is exactly what we are aiming for, for prospectively creditors to be paid their debts when they become due. In relation to those ones that have occurred before the administration, that is something that is being looked at and worked out, and there will be further things said about that in coming days.

In relation to the state of the finances over recent months and in fact recent years of the operation of the steelworks, it is on the public record that the Steel Task Force has provided the best possible advice that the government was able to seek, noting the difficulty in obtaining actual records from the private company, GFG. I think that is well known and on the public record, and certainly the government has acted in a way—using the best advice we had—to protect the future of the Whyalla Steelworks.