Thursday, May 25, 2017

FIRB allows companies owned by foreign governments to buy up farmland

Posted by Jim on May 15, 2010

The Greens candidate for Wide Bay, Dr Jim McDonald, has raised concerns about Foreign Investment Review Board approvals for the purchase of agricultural land by corporations with substantial foreign government ownership.

I want to know whether land in the Wide Bay and Burnett region is been sold off to overseas companies owned by foreign governments.

The Greens’ policy on agriculture calls for the protection of prime agricultural land from urban developments and other encroachments. I would add to that the specific protection of the sovereignty of agricultural lands.

These principles are under attack by FIRB approvals of agricultural land purchases by corporations substantially owned by foreign governments.

The question of foreign investment in Australian resources and industry is one thing. It is quite a different issue when foreign governments are involved.

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