Angus Taylor warns of 'crony capitalism' risk in fresh attack on Labor's $1b quantum bet
In an exclusive interview with Capital Brief, the opposition's treasury spokesman explained how the Coalition would tackle the nation's biggest economic challenges, but also signalled how it plans to fight Labor.
Shadow treasurer Angus Taylor has attacked the government's billion dollar investment into quantum computing startup PsiQuantum and pledged to avoid "crony capitalism" and "corporate welfarism" in a sign the Coalition will fight Labor's Future Made in Australia agenda at the next election.
In an exclusive interview with Capital Brief in Parliament House discussing the Coalition's plans for the nation's economic future, Taylor insisted he was pro-technology but indicated the Coalition would not necessarily seek to directly fund companies and industries to the extent that Labor plans to. Instead, his response to a changing global economy would be to incentivise private sector investment and reform the labour market.
“I'm a huge believer in technology,” Taylor told Capital Brief in the interview.
“Quantum, and particularly quantum encryption, I think is a really important technology. We know there's significant investments being made in it by China and others, and western countries have got to keep up.
