Kevin Rudd (Griffith, Australian Labor Party, Prime Minister) Share this | Hansard source

The first part of the honourable member’s question we have answered. On the second part of the honourable member’s question, which concerns how individual applications for foreign investment in Australia are to be treated: they will be treated by the normal Foreign Investment Review Board processes, which would involve, of course, judgements to be made in the national interest. In the case of foreign government owned entities, judgements will be made against the new guidelines which were released by this government in recent times. The reason for doing that is that we have a growth of sovereign wealth funds. National interest needs to be defined. It has been in our guidelines. The previous government failed to do that.

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