Nick Sherry (Tasmania, Australian Labor Party, Minister Assisting the Minister for Tourism) Share this | Link to this | Hansard source

I have a second answer relating to a question from Senator Joyce, asked of me in my capacity as the Assistant Treasurer on 15 November 2010. I seek leave to incorporate the answer in Hansard.

Leave granted.

The answer read as follows—

I would like to update the Senate on a question I took on notice on 15 November 2010.

During Question Time, Senator Joyce asked whether the Government has rejected any of the $5.3 billion of foreign investment in Australia’s agricultural sector.

I can now confirm that in the first term of the Labor Government (December 2007 and June 2009), FIRB approved 21 agriculture, forestry and fishing sector business proposals and I can also confirm that FIRB did not reject any agriculture, forestry and fishing sector business proposals during this period.

However, I can also confirm to the Senate that this is not unusual. When the Coalition were in Government between March 1996 and November 2007 FIRB approved 151 agriculture, forestry and fishing sector business proposals and I also confirm that FIRB did not reject any agriculture, forestry and fishing sector business proposals.

ANSWER

Senator Sherry: The Assistant Treasurer has provided the following answer to the honourable Senator’s question:

The number of agriculture, forestry and fishing sector business proposals rejected by FIRB were:

• 0 between March 1996 and November 2007; and
• 0 between December 2007 and June 2009.

The number of agriculture, forestry and fishing sector business proposals approved by FIRB were :

• 151 between March 1996 and November 2007; and
• 21 between December 2007 and June 2009.