Eric Abetz (Tasmania, Liberal Party, Minister for Employment) Share this | Hansard source

The government has long been aware of community concern that no-one had a complete picture of the levels of foreign ownership of our agricultural and agribusiness assets, so the government is reworking the framework to provide clarity to the community and certainty to investors.

Australia remains one of the most attractive destinations for foreign investment. Genuine, above-board foreign investors will not be concerned by the coalition government's very reasonable measures to increase transparency around foreign investment in agriculture. By contrast, the opposition advocates that no foreign purchase proposals for agricultural land need be screened by FIRB unless they exceed $1,000 million. For $1,000 million, you could buy a very large tract of Australian agricultural land indeed in one go. And, in our home state of Tasmania, that would be a fair share of it. (Time expired)