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Australian Greens comment on S. KIDMAN & CO. LIMITED sale knockback to foreign purchasers

Media Release
Rachel Siewert 19 Nov 2015

“The Australian Greens welcome the Treasurer's decision to heed the advice of the Foreign Investment Review Board and refuse authorisation for the foreign acquisition of S. Kidman and Co, which is Australia’s largest private land holding being 2.5 per cent of Australia’s agricultural land”, said Australian Greens spokesperson on Agriculture, Senator Rachel Siewert.

“The Kidman properties are not only iconic, they have high environmental values and are an important part of our agricultural production.

“Given the iconic nature and environmental value of some of or part of these properties I would encourage the Government to look at how some parts of the holdings could contribute to our conservation estate and/or Indigenous protected areas.

“The Australian Greens have long advocated for increased protections of our agricultural land and water.

“This includes an outright ban on the sale of agricultural land and water licenses to wholly-owned subsidiaries of foreign governments, and a much more stringent national interest test.

“It was good to see this national interest threshold reduced from $252 million to $15 million earlier in the year, but we can go even further.

“We must exercise appropriate scrutiny that is critical to making strategic decisions about our land.  

“The decision by the Treasurer is a step in the right direction”.

 

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