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Foreign ownership register good step forward but national interest test essential



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Australian Greens, Senator Christine Milne

Friday, 2 November 2012

Foreign ownership register good step forward but national interest test essential

'Whilst a foreign ownership register is long overdue and a step in the right direction, it will only record details as the farm is sold.' Leader of the Australian Greens, Senator Christine Milne said.

'What we need is a serious national interest test that must be applied as every application for foreign ownership is made to the FIRB.

'We must also maintain the $0 level of assessment for companies that are subsidiaries of foreign governments, we must also lower the threshold from over $244m so that all applications for land and water over $5m are assessed in the national interest.

'In a century when food is the new oil and land is the new gold, we must keep ownership of our food production, land and water as other countries lose faith in trade and scramble in massive land grabs to outsource food production.'