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Arrium bailout would put taxpayers' money at risk: Dutton

A SENIOR federal Liberal minister has effectively ruled out offering troubled Whyalla steelmaker Arrium a bailout.

Immigration Minister Peter Dutton insisted the Government did not offer financial aid to Qantas and SPC Ardmona.

He said the Government would not risk spending millions of dollars of taxpayers' money on Arrium despite a more positive outlook from administrators Grant Thornton over the weekend.

"For governments to take an equity stake or to try and pick winners - as Labor governments at a state and federal level have proven over many, many years - that is a fraught exercise, and ultimately you put at risk taxpayers' money," Mr Dutton said.

The company has debts of more than $4 billion and was placed into voluntary administration last week, putting more than 8,000 jobs at risk nationwide.

Read more at: ABC

Topics:  bailout



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