Government flags foreign land ownership register
The Federal Government has flagged it may introduce a foreign ownership register for agricultural land.
The Opposition has been pushing for greater scrutiny of foreign ownership of farmland.
The Government maintains only about 6 per cent of Australia’s agricultural land is foreign-owned, and that figure has barely changed since the 1980s.
But Agriculture Minister Joe Ludwig says the Government could provide more comprehensive information.
“I’m excited about the Government consulting on a national foreign ownership register because it will provide the community with a comprehensive picture of the type and location of foreign agricultural holdings throughout Australia,” he said.
“It’s important we get the facts on the table.”
Senator Ludwig and Assistant Treasurer David Bradbury say they will set up a working group to look at how the Government could create a register that would increase transparency without duplicating bureaucracy.
Topics:federal-government, rural, agribusiness, australia