Any federal assistance may take time: Arrium administrators

Arrium’s administrators are still hopeful of federal assistance, despite this not being mentioned in the federal budget.

Yesterday federal treasurer Scott Morrison told radio in Adelaide that money for struggling enterprises was unnecessary.

“What people in Whyalla and places like that don’t need is a Treasurer to get up at a Budget and splash a whole lot of money around and put up taxes to try and pay for it,” InDailyreports Morrison as saying.

Administrators KordaMentha said they were unconcerned by the lack of co-investment in the company announced, and that any assistance measures would take time to plan.

“We know things can’t be conjured up overnight and the budget really was locked up very early in the administration,” the company’s Mike Smith told AAP.

“Just because there’s nothing specific in the budget doesn’t mean there may not be something down the track.”