Angus Taylor (Hume, Liberal Party) Share this | Link to this | Hansard source

Recently I had the pleasure of hosting the Prime Minister, the Treasurer, and the Minister of Agriculture at a property in Murrumbateman in my electorate. The Prime Minister announced new measures to monitor foreign ownership of agricultural land. From 1 March—that is next week—the screening threshold for the purchase of agricultural land will be reduced. Foreign investors will have to seek approval for any purchase of agricultural land that will result in their total landholding exceeding $15 million. All investments in agricultural land over $15 million will be added to a register of foreign ownership. This government welcomes investment in agriculture; we know we need more, not less. At the same time, we need to assure local farmers and producers that the investment is in the national interest. Smart policy underpins successful industries—I have never seen a turnaround like the one we have seen in the cattle market in the last couple of months.

We were hosted at Murrumbateman by the Hodgkinson family, who have been farming since in that area since the 1850s. Landon Hodgkinson says, 'the government's policies to re-establish export markets, to set up free trade agreements providing new access into Asia, together with a great season in southern New South Wales, have seen stock prices skyrocket, particularly for cattle'. In his words: 'We can't complain.' That is a ringing endorsement from a farmer. This government is delivering smart policy, for the Hodgkinsons and for other farming families across Australia.