❓ Mr Masters questions the Premier about a proposed $30 million loan to Pinnacle Blue Ltd for a super-computing facility. The Premier states the support is in-principle and negotiations are ongoing to ensure public interest is protected.
AnsweredQoN 685Legislative Assembly
QuestionView source ↗
PINNACLE BLUE LTD, GOVERNMENT LOAN
I refer the Premier to his ministerial statement yesterday that the Government plans to provide a $30 million loan to Pinnacle Blue Ltd, a company registered in September of this year, to assist in the establishment of a super-computing facility in Western Australia. (1) What terms and conditions are attached to the proposed $30 million start-up loan? (2) If this Government provides the loan, what security will be offered to the taxpayers of Western Australia? (3) Will the Premier table in the House a copy of the economic analysis upon which the proposed loan has been based - an analysis that claims that the project will generate up to 8 400 jobs? Dr GALLOP
I refer the Premier to his ministerial statement yesterday that the Government plans to provide a $30 million loan to Pinnacle Blue Ltd, a company registered in September of this year, to assist in the establishment of a super-computing facility in Western Australia. (1) What terms and conditions are attached to the proposed $30 million start-up loan? (2) If this Government provides the loan, what security will be offered to the taxpayers of Western Australia? (3) Will the Premier table in the House a copy of the economic analysis upon which the proposed loan has been based - an analysis that claims that the project will generate up to 8 400 jobs? Dr GALLOP
AnswerView source ↗
(1)-(3) I made it clear in my statement to the House yesterday that the decision of the Cabinet on this matter was to give in-principle support to the establishment of a super-computing facility in Western Australia, and that it was the responsibility of the Government to negotiate with the proponent the terms and conditions that would apply. When we first received this proposal, we believed that aspects of it needed further work. We put in place the due diligence process. We have made it clear that before the Government will be satisfied to make the loan, some improvements will need to be made to the way in which the project will be put together. Our view is that it will be a very good thing for Western Australia. The level of computation that will be possible with this super-computing facility will be highly advantageous to our resources sector and the health research industry. All our universities also are very keen. We must ensure that the terms and conditions of the loan are satisfactory from a public interest point of view. The Government will negotiate with the proponent to ensure that is the case. Obviously the member did not read my statement properly yesterday, because I said that it was in-principle support. We are now engaged in negotiations to get the terms and conditions right, so that the public interest is protected in the use of taxpayers’ money. When the arrangements are put together and agreed upon, we will outline all the background to, and details of, those arrangements, including the economic analysis.
(1) What terms and conditions are attached to the proposed $30 million start-up loan? (2) If this Government provides the loan, what security will be offered to the taxpayers of Western Australia? (3) Will the Premier table in the House a copy of the economic analysis upon which the proposed loan has been based - an analysis that claims that the project will generate up to 8 400 jobs? Dr GALLOP replied: (1)-(3) I made it clear in my statement to the House yesterday that the decision of the Cabinet on this matter was to give in-principle support to the establishment of a super-computing facility in Western Australia, and that it was the responsibility of the Government to negotiate with the proponent the terms and conditions that would apply. When we first received this proposal, we believed that aspects of it needed further work. We put in place the due diligence process. We have made it clear that before the Government will be satisfied to make the loan, some improvements will need to be made to the way in which the project will be put together. Our view is that it will be a very good thing for Western Australia. The level of computation that will be possible with this super-computing facility will be highly advantageous to our resources sector and the health research industry. All our universities also are very keen. We must ensure that the terms and conditions of the loan are satisfactory from a public interest point of view. The Government will negotiate with the proponent to ensure that is the case. Obviously the member did not read my statement properly yesterday, because I said that it was in-principle support. We are now engaged in negotiations to get the terms and conditions right, so that the public interest is protected in the use of taxpayers’ money. When the arrangements are put together and agreed upon, we will outline all the background to, and details of, those arrangements, including the economic analysis.
(2) If this Government provides the loan, what security will be offered to the taxpayers of Western Australia? (3) Will the Premier table in the House a copy of the economic analysis upon which the proposed loan has been based - an analysis that claims that the project will generate up to 8 400 jobs? Dr GALLOP replied: (1)-(3) I made it clear in my statement to the House yesterday that the decision of the Cabinet on this matter was to give in-principle support to the establishment of a super-computing facility in Western Australia, and that it was the responsibility of the Government to negotiate with the proponent the terms and conditions that would apply. When we first received this proposal, we believed that aspects of it needed further work. We put in place the due diligence process. We have made it clear that before the Government will be satisfied to make the loan, some improvements will need to be made to the way in which the project will be put together. Our view is that it will be a very good thing for Western Australia. The level of computation that will be possible with this super-computing facility will be highly advantageous to our resources sector and the health research industry. All our universities also are very keen. We must ensure that the terms and conditions of the loan are satisfactory from a public interest point of view. The Government will negotiate with the proponent to ensure that is the case. Obviously the member did not read my statement properly yesterday, because I said that it was in-principle support. We are now engaged in negotiations to get the terms and conditions right, so that the public interest is protected in the use of taxpayers’ money. When the arrangements are put together and agreed upon, we will outline all the background to, and details of, those arrangements, including the economic analysis.
(3) Will the Premier table in the House a copy of the economic analysis upon which the proposed loan has been based - an analysis that claims that the project will generate up to 8 400 jobs? Dr GALLOP replied: (1)-(3) I made it clear in my statement to the House yesterday that the decision of the Cabinet on this matter was to give in-principle support to the establishment of a super-computing facility in Western Australia, and that it was the responsibility of the Government to negotiate with the proponent the terms and conditions that would apply. When we first received this proposal, we believed that aspects of it needed further work. We put in place the due diligence process. We have made it clear that before the Government will be satisfied to make the loan, some improvements will need to be made to the way in which the project will be put together. Our view is that it will be a very good thing for Western Australia. The level of computation that will be possible with this super-computing facility will be highly advantageous to our resources sector and the health research industry. All our universities also are very keen. We must ensure that the terms and conditions of the loan are satisfactory from a public interest point of view. The Government will negotiate with the proponent to ensure that is the case. Obviously the member did not read my statement properly yesterday, because I said that it was in-principle support. We are now engaged in negotiations to get the terms and conditions right, so that the public interest is protected in the use of taxpayers’ money. When the arrangements are put together and agreed upon, we will outline all the background to, and details of, those arrangements, including the economic analysis.
Dr GALLOP replied: (1)-(3) I made it clear in my statement to the House yesterday that the decision of the Cabinet on this matter was to give in-principle support to the establishment of a super-computing facility in Western Australia, and that it was the responsibility of the Government to negotiate with the proponent the terms and conditions that would apply. When we first received this proposal, we believed that aspects of it needed further work. We put in place the due diligence process. We have made it clear that before the Government will be satisfied to make the loan, some improvements will need to be made to the way in which the project will be put together. Our view is that it will be a very good thing for Western Australia. The level of computation that will be possible with this super-computing facility will be highly advantageous to our resources sector and the health research industry. All our universities also are very keen. We must ensure that the terms and conditions of the loan are satisfactory from a public interest point of view. The Government will negotiate with the proponent to ensure that is the case. Obviously the member did not read my statement properly yesterday, because I said that it was in-principle support. We are now engaged in negotiations to get the terms and conditions right, so that the public interest is protected in the use of taxpayers’ money. When the arrangements are put together and agreed upon, we will outline all the background to, and details of, those arrangements, including the economic analysis.
(1)-(3) I made it clear in my statement to the House yesterday that the decision of the Cabinet on this matter was to give in-principle support to the establishment of a super-computing facility in Western Australia, and that it was the responsibility of the Government to negotiate with the proponent the terms and conditions that would apply. When we first received this proposal, we believed that aspects of it needed further work. We put in place the due diligence process. We have made it clear that before the Government will be satisfied to make the loan, some improvements will need to be made to the way in which the project will be put together. Our view is that it will be a very good thing for Western Australia. The level of computation that will be possible with this super-computing facility will be highly advantageous to our resources sector and the health research industry. All our universities also are very keen. We must ensure that the terms and conditions of the loan are satisfactory from a public interest point of view. The Government will negotiate with the proponent to ensure that is the case. Obviously the member did not read my statement properly yesterday, because I said that it was in-principle support. We are now engaged in negotiations to get the terms and conditions right, so that the public interest is protected in the use of taxpayers’ money. When the arrangements are put together and agreed upon, we will outline all the background to, and details of, those arrangements, including the economic analysis.
(1) What terms and conditions are attached to the proposed $30 million start-up loan? (2) If this Government provides the loan, what security will be offered to the taxpayers of Western Australia? (3) Will the Premier table in the House a copy of the economic analysis upon which the proposed loan has been based - an analysis that claims that the project will generate up to 8 400 jobs? Dr GALLOP replied: (1)-(3) I made it clear in my statement to the House yesterday that the decision of the Cabinet on this matter was to give in-principle support to the establishment of a super-computing facility in Western Australia, and that it was the responsibility of the Government to negotiate with the proponent the terms and conditions that would apply. When we first received this proposal, we believed that aspects of it needed further work. We put in place the due diligence process. We have made it clear that before the Government will be satisfied to make the loan, some improvements will need to be made to the way in which the project will be put together. Our view is that it will be a very good thing for Western Australia. The level of computation that will be possible with this super-computing facility will be highly advantageous to our resources sector and the health research industry. All our universities also are very keen. We must ensure that the terms and conditions of the loan are satisfactory from a public interest point of view. The Government will negotiate with the proponent to ensure that is the case. Obviously the member did not read my statement properly yesterday, because I said that it was in-principle support. We are now engaged in negotiations to get the terms and conditions right, so that the public interest is protected in the use of taxpayers’ money. When the arrangements are put together and agreed upon, we will outline all the background to, and details of, those arrangements, including the economic analysis.
(2) If this Government provides the loan, what security will be offered to the taxpayers of Western Australia? (3) Will the Premier table in the House a copy of the economic analysis upon which the proposed loan has been based - an analysis that claims that the project will generate up to 8 400 jobs? Dr GALLOP replied: (1)-(3) I made it clear in my statement to the House yesterday that the decision of the Cabinet on this matter was to give in-principle support to the establishment of a super-computing facility in Western Australia, and that it was the responsibility of the Government to negotiate with the proponent the terms and conditions that would apply. When we first received this proposal, we believed that aspects of it needed further work. We put in place the due diligence process. We have made it clear that before the Government will be satisfied to make the loan, some improvements will need to be made to the way in which the project will be put together. Our view is that it will be a very good thing for Western Australia. The level of computation that will be possible with this super-computing facility will be highly advantageous to our resources sector and the health research industry. All our universities also are very keen. We must ensure that the terms and conditions of the loan are satisfactory from a public interest point of view. The Government will negotiate with the proponent to ensure that is the case. Obviously the member did not read my statement properly yesterday, because I said that it was in-principle support. We are now engaged in negotiations to get the terms and conditions right, so that the public interest is protected in the use of taxpayers’ money. When the arrangements are put together and agreed upon, we will outline all the background to, and details of, those arrangements, including the economic analysis.
(3) Will the Premier table in the House a copy of the economic analysis upon which the proposed loan has been based - an analysis that claims that the project will generate up to 8 400 jobs? Dr GALLOP replied: (1)-(3) I made it clear in my statement to the House yesterday that the decision of the Cabinet on this matter was to give in-principle support to the establishment of a super-computing facility in Western Australia, and that it was the responsibility of the Government to negotiate with the proponent the terms and conditions that would apply. When we first received this proposal, we believed that aspects of it needed further work. We put in place the due diligence process. We have made it clear that before the Government will be satisfied to make the loan, some improvements will need to be made to the way in which the project will be put together. Our view is that it will be a very good thing for Western Australia. The level of computation that will be possible with this super-computing facility will be highly advantageous to our resources sector and the health research industry. All our universities also are very keen. We must ensure that the terms and conditions of the loan are satisfactory from a public interest point of view. The Government will negotiate with the proponent to ensure that is the case. Obviously the member did not read my statement properly yesterday, because I said that it was in-principle support. We are now engaged in negotiations to get the terms and conditions right, so that the public interest is protected in the use of taxpayers’ money. When the arrangements are put together and agreed upon, we will outline all the background to, and details of, those arrangements, including the economic analysis.
Dr GALLOP replied: (1)-(3) I made it clear in my statement to the House yesterday that the decision of the Cabinet on this matter was to give in-principle support to the establishment of a super-computing facility in Western Australia, and that it was the responsibility of the Government to negotiate with the proponent the terms and conditions that would apply. When we first received this proposal, we believed that aspects of it needed further work. We put in place the due diligence process. We have made it clear that before the Government will be satisfied to make the loan, some improvements will need to be made to the way in which the project will be put together. Our view is that it will be a very good thing for Western Australia. The level of computation that will be possible with this super-computing facility will be highly advantageous to our resources sector and the health research industry. All our universities also are very keen. We must ensure that the terms and conditions of the loan are satisfactory from a public interest point of view. The Government will negotiate with the proponent to ensure that is the case. Obviously the member did not read my statement properly yesterday, because I said that it was in-principle support. We are now engaged in negotiations to get the terms and conditions right, so that the public interest is protected in the use of taxpayers’ money. When the arrangements are put together and agreed upon, we will outline all the background to, and details of, those arrangements, including the economic analysis.
(1)-(3) I made it clear in my statement to the House yesterday that the decision of the Cabinet on this matter was to give in-principle support to the establishment of a super-computing facility in Western Australia, and that it was the responsibility of the Government to negotiate with the proponent the terms and conditions that would apply. When we first received this proposal, we believed that aspects of it needed further work. We put in place the due diligence process. We have made it clear that before the Government will be satisfied to make the loan, some improvements will need to be made to the way in which the project will be put together. Our view is that it will be a very good thing for Western Australia. The level of computation that will be possible with this super-computing facility will be highly advantageous to our resources sector and the health research industry. All our universities also are very keen. We must ensure that the terms and conditions of the loan are satisfactory from a public interest point of view. The Government will negotiate with the proponent to ensure that is the case. Obviously the member did not read my statement properly yesterday, because I said that it was in-principle support. We are now engaged in negotiations to get the terms and conditions right, so that the public interest is protected in the use of taxpayers’ money. When the arrangements are put together and agreed upon, we will outline all the background to, and details of, those arrangements, including the economic analysis.
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