Scott Morrison (Cook, Liberal Party, Treasurer) Share this | Hansard source

I thank the member for his question. As the member would know, under the relevant legislation, if the Kidman property were to be sold to what I understand is now the only bidder—which has a component that is 30 per cent foreign owned—and if there were to be any change to that arrangement in any subsequent purchase, it would have to come back again for consideration first by the Foreign Investment Review Board and then, on recommendation, by the Treasurer.

There seems to be some suggestion outside of this place—and I do not suggest that has come from the member who asked the question—that somehow, if that sale were to proceed, then subsequent to that the property could be onsold with no further review. That is simply not the case. Any proposal that triggers the foreign investment threshold review, which a parcel of that size certainly would, would always have to come back and be considered by FIRB and by me, as Treasurer. I remind the member that on the two occasions that I was asked to consider the sale of the Kidman land I rejected it—on two occasions. I note that the shadow Treasurer indicated that he would have approved it before the last election.

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