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May 17, 2021

Cabinet sworn in, Adani loan vetoed

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Annastacia Palaszczuk’s new cabinet has been officially sworn in and the premier has already fulfilled a key election promise by vetoing a $1 billion loan to Indian mining giant Adani.

Three weeks since voters went to the polls on November 25, Ms Palaszczuk was on Tuesday sworn in as Premier and Trade Minister, while her Deputy Jackie Trad was also made Treasurer, as announced on the weekend.

Cameron Dick is the new State Development Minister and Kate Jones rounds out the group of senior economic ministers by adding Innovation to her Tourism and Commonwealth Games portfolios.

Soon after the ceremony to swear in her new team, Ms Palaszczuk wrote to the prime minister saying financial assistance should not be provided for the Adani’s north Galilee Basin rail project.

The blocking of federal funds won’t alter Adani’s plans, a spokesman said in a statement.

“Adani Australia will now fully consider and adjust to the constraints the veto of funding brings,” the spokesman said.

“Adani Australia is 100 per cent committed to Queensland, we have a strong regional Queensland presence. This will not change.”

The contentious loan, for a rail line connecting the Carmichael coal mine to the Abbot Point coal terminal and related mining project were at the centre of the recent state campaign, and Ms Palaszczuk announced the veto at the end of its first week.

She initially claimed she was vetoing the loan to avoid conflict of interest claims against her partner Shaun Drabsch, who had done consultancy work for the company
.

But she later claimed vetoing the loan had always been on the cards.


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