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

The answer that I gave yesterday stands. It is correct. I am happy to have a look at the answer to see if further information is required, but the simple fact is we as a government have said that investment in agricultural land and agribusinesses is of concern to us and to the community. At the moment, as it stands, under the shadow minister for trade, Senator Wong, the Australian Labor Party has a threshold of $1,000 million. In general terms, chances are that that that amount could purchase one-third—I think Senator Colbeck could assist me on this—of Tasmania's agricultural land in one single purchase.

So can I say to the honourable senator that there is no doubt that our policy has moved in the right direction. It is in accordance with the wish of the Australian people that there be some greater circumspection and investigation in relation to matters of foreign investment, especially in the agricultural land acquisition area and that is what my colleague the Minister for Agriculture, Minister Joyce, and the cabinet have agreed upon and have announced.