Labor gave PsiQuantum a head start before receiving probity advice
External probity advisers for the Albanese Labor’s Government’s $1 billion PsiQuantum deal were engaged months after officials within the Government first met with the company and received an unsolicited proposal from them, casting further doubt over whether proper probity processes were followed.
Paul Fletcher MP
Shadow Minister for Government Services and the Digital Economy
Shadow Minister for Science and the Arts
Manager of Opposition Business in the House
External probity advisers for the Albanese Labor’s Government’s $1 billion PsiQuantum deal were engaged months after officials within the Government first met with the company and received an unsolicited proposal from them, casting further doubt over whether proper probity processes were followed.
Documents obtained under Freedom of Information laws by the Opposition indicates that probity advisers, engaged in January 2023, were appointed after the Minister for Science Ed Husic appointed two senior executives from venture capital firm Blackbird to government advisory boards in 2022, and the same month he visited PsiQuantum’s headquarters in California. Disclosure reports shows that Blackbird has a financial stake in PsiQuantum.
PsiQuantum wasn’t invited to participate in the expression of interest process (EOI) in August 2023 and the much hyped 400 jobs that will be created from the investment won’t happen until 2032.
Shadow Minister for Science Paul Fletcher will today take the first step towards establishing a parliamentary inquiry into Labor’s big bet on PsiQuantum, by moving a motion in the House of Representatives.
“Claims made by Labor and Ed Husic that this investment met rigorous probity standards is utter nonsense. The evidence shows that PsiQuantum was given a head start and the horse had already bolted,” Mr Fletcher said.
“PsiQuantum wasn’t even invited to participate in the EOI process, which suggests Labor had already made up its mind and sealed the deal.
“Any use of taxpayer funds must comply with the proper standards of transparency, fairness and contestability. Instead, this deal has been cloaked in secrecy from the start, with serious questions still unanswered.
“Proper parliamentary scrutiny is long overdue and the Coalition is pushing for a review into this controversial deal. Ed Husic says he welcomes more scrutiny and the ball is now in his court to follow through on his conviction.”
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