Senate debates

Wednesday, 27 June 2012

Questions without Notice

Foreign Investment

3:00 pm

Photo of Penny WongPenny Wong (SA, Australian Labor Party, Minister for Finance and Deregulation) Share this | Hansard source

Firstly, in terms of foreign ownership levels, the ABARES data to which I referred in the first question shows that foreign ownership in the agricultural sector remains modest and that around 89 per cent of agricultural land is entirely Australian owned. The government is continuing to look at ways we can improve transparency in the foreign ownership of agricultural land and I am advised that the government recently announced it would establish a working group to develop a register of foreign ownership of agricultural land. This would provide the community with a more comprehensive picture of the specific size and location of foreign agricultural land holdings than is currently available.


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