That this House:

(1)   require the responsible Minister to:

(a)   commission the Australian Bureau of Statistics, with the assistance of ABARE, to compile data on the foreign ownership of agricultural land and agribusiness, which should:

(i)   show the level of foreign ownership for Australia as a whole, by state and for key regions, and for particular agribusinesses;

(ii)   include a biennial formal statistical release; and

(iii)   inform what steps need to be taken to establish and maintain a public register of foreign ownership of agricultural land and agribusiness, if required; and

(b)   task the Productivity Commission, subject to its work program, and on the receipt of the initial ABS data, to:

(i)   review foreign ownership of agricultural land and agribusiness, with an evaluation of its contribution to the national interest in terms of economic development, food and water security, and agricultural sustainability; and

(ii)   recommend how the foreign investment policy on agricultural land and agribusiness should be modified, if necessary, to ensure the optimum outcomes for economic development and the national interest, including whether the Government needs to: