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Forrest opposes MIS in any form.



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j.forrest.mp@aph.gov.au www.jforrest.com 60 Campbell Street, Swan Hill VIC 3585 ph 03 5032 4510 fax 03 5032 9407

Saturday, 7 August 2010.

FORREST OPPOSES MIS IN ANY FORM

The Nationals Federal Member for Mallee John Forrest says he will welcome the day when Federal Parliament abandons managed investment scheme incentives in agriculture and forestry.

“MIS projects have been discredited in horticulture with the damage caused almost unfixable,” Mr Forrest said.

“Their reckless purchase of water at prohibitive prices wrecked the water market for conventional for profit water users.

“It seemed to me that the quantity of money they spent was driven by taxation rather than commercial reality.

“Supporting MIS was the biggest mistake the Coalition has ever made and I have made my thoughts known about this inside Parliament and out. It is well-documented. I am saddened I lost the argument when they were introduced and I’ll oppose them until they’re abolished.”

Mr Forrest said if a new enterprise was economically feasible it didn’t need up-front tax incentives to make it work.

“As for the allegedly successful agro forestry MIS in the Western District and southern Wimmera, they are in the same category.

“Warren Truss is well aware of my position on MIS, and the fears of Mallee constituents, as are other senior Nationals, Senator Boswell and Senator Joyce,” Mr Forrest said.

Last September The Nationals were furious that a parliamentary inquiry has recommended the retention of agricultural managed investment schemes, subject to a major shake-up.

The MIS structural issues highlighted in the inquiry can be found at http://www.aph.gov.au/senate/committee/corporations_ctte/MIS/report/c03.htm#anc5.

Mr Forrest can be contacted on 0428 500 186.