Let it happen, but it must be monitored. That’s the opinion of Angus Taylor and the National Party when it comes to foreign investment in land around the Yass Valley.
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The issue of foreign investment has become more and more contentious in recent times and famers have been left divided.
Mr Taylor said farmers “shouldn’t be afraid of foreign investment” and that it is something that will help the industry and keep interest rates low.
“Australian agriculture needs a wave of new investment, skills and job creation,” he said.
“Foreign investment from the right places, with the right intentions and in the right structures will help to achieve this.”
But he insists it must be watched carefully.
"I believe it is in everyone's interest to increase the transparency and scrutiny of foreign investment in agriculture, particularly given how high the current threshold is,” he said.
‘Bobara Station’ at Binalong is one property that has recently been sold to foreign investors and local farmer David Sykes shares a similar view to Mr Taylor.
However, Mr Sykes draws the line when foreign governments buy into the land.
“What worries me is that if a government invests, it's a different situation than with a private entity,” he told the Tribune.
"Foreign government investment in our agriculture sector raises serious issues. My gut feeling is that we should not allow foreign state-owned companies to buy Australian properties.”
But Mr Sykes conceded that the issue is not clear-cut and that investment does “maintain property value”.
There has also been talk of a divide between the National and Liberal parties around this issue but Mr Taylor insists it is not the case.
"This is a Coalition discussion paper, not a Liberal Party paper. No astute or informed politician would want to deter foreign investment, because everyone in Australia with a loan will pay dearly if we do."
"We all agree that investment intended to monopolise our industries or avoid tax is not welcome,” he added.
“As foreign investment is vital to Australia’s ongoing economic prosperity, we are committed to ensuring that the Coalition’s foreign investment policy is thorough, practical, achievable and likely to further promote foreign investment that is not contrary to the national interest,” leader of the opposition Tony Abbott confirmed in a statement.