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Chinese Own Less Than 1% Of Agricultural Land; Figures Show 86% Land Australian-Owned; Half Of All Foreign Investment Is From UK

Figures released today by the Australian Taxation Office show that 86.4% of the nation’s agricultural land is held by Australians. Foreign interests hold 13.6%, whilst Chinese interests control just 0.4% of the total.

Figures from the Register of Foreign Ownership of Agricultural Land show that over half of all foreign investment in Australian agricultural land is held by the United Kingdom (52.7%), which has 27.5 million hectares, or 7.2%, of total agricultural land.

United States interests hold 14.8% of all foreign investment in land. This represents 7.7 million hectares, or 2% of the total.

The Netherlands, Singapore, China, Philippines, Switzerland, Jersey, Indonesia and Japan hold 21% of all foreign investment. Together, the top 10 countries account for 88.5% of all foreign investment in agricultural land.

The figures debunk claims by populist and fringe political groups about Chinese holdings of land. Just 2.8% of all foreign investment in land is Chinese, or 0.4% of all agricultural land. [Read more…]


Bob Katter Advertisement Raises Eyebrows

Bob Katter has posted a video advertisement on YouTube that depicts him having shot the ALP and LNP.

The advertisement raised eyebrows today, given its proximity to the shootings in Orlando, Florida, this week.

The theme of the ad is that “Australia is not for sale”. It shows two characters, the ALP and LNP, putting up an “Australia for Sale” sign, which Katter removes. The ad concludes with Katter painting “Australia NOT for Sale” on the sign and blowing smoke from a pistol as the camera rises to show the two characters apparently lying dead. [Read more…]


Greens And Palmer Back GrainCorp Decision; ALP Says Hockey Acts In The Nationals Interest

Treasurer Joe Hockey’s decision to block the ADM takeover of GrainCorp has met with approval from the Greens and Clive Palmer but has been criticised by the ALP as an attack on foreign investment and a capitulation to The Nationals.

Shadow Treasurer Chris Bowen said Hockey had failed his first big test of credibility as Treasurer. He said Hockey had acted not in the national interest but in the interests of The Nationals. “Hockey can be bullied afterall,” Bowen said. [Read more…]


Treasurer Joe Hockey Blocks ADM Takeover Of GrainCorp

The Treasurer, Joe Hockey, has blocked the takeover of GrainCorp by the American company Archer Daniels Midland.

Hockey

Hockey used the power given to him alone as Treasurer to reject the foreign investment application. ADM was seeking to increase its current shareholding of 19.85% to 100%. Hockey said he would permit ADM to hold 24.9%. [Read more…]