Divisions grow in govt over farm buyouts
Sky News | October 15, 2013
Divisions grow in govt over farm buyouts
Divisions within the government over foreign ownership of farmland appear to be deepening, with Labor accusing the coalition of speaking with two heads about Chinese investment.
Prime Minister Tony Abbott hopes to finalise a free-trade agreement with China within 12 months, but the government’s plan to increase scrutiny of foreign agricultural land purchases could prove a sticking point.
The government plans to reduce the Foreign Investment Review Board national interest test from 248 million dollars to 15 million dollars for proposed agricultural purchases, but China wants it increased to one billion dollars.
The Nationals have been vocal critics of the wholesale buyout of farms by China.
Labor frontbencher Brendan O’Connor has told Sky News it’ll be very interesting to see how the government tries to reconcile its differences while meeting its 12-month deadline for signing the FTA.
