THE Deputy Prime Minister has hailed a decision by the treasurer to block the sale of Australia’s largest cattle empire S Kidman and Co Ltd to a foreign-led consortium, as common sense.
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Barnaby Joyce said the “decision demonstrates we do have proper oversight of who owns the most precious asset in our nation – the land we stand on.”
“It’s vitally important that people are confident that it’s not a ‘one-way street’ on these decisions, and the Coalition government fully understands the concerns of the public on these issues,” he said.
“This is a substantial pastoral asset and the Australian people have the right to say they have serious concerns about it being sold to foreign interests,” Mr Joyce said.
“I believe people from other countries understand the sensitivities in our nation on this issue, because they share the same sensitivities.”
“We also remain the most liberal country on earth in terms of the purchase of agricultural assets – the most liberal by far.”
“The Australian people hold more than $2 trillion in superannuation, and about 0.3 per cent of that is in agricultural assets.”
“This is a great time for people to contact their superannuation funds and ask why they don’t hold a greater stake in our agricultural sector – an investment that is obviously attractive to overseas interests,” Mr Joyce said.
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