Australian Trade Minister Craig Emerson: (link)
If Swan had gone down the path of populism so often trodden by Senator Joyce he would have rejected the FIRB's recommendation.This is the Trade Minister? If Shandong Ruyi, basically a Chinese Government-owned company, takes over Cubbie, there will be no trade of the cotton. It will be shipped off-shore to make suits for the increasing Chinese middle class (is Chinese middle class a conflict in terms?)
There will be no Australian Trade with Cubbie's cotton. As Barnaby Joyce says: "It's a loss of 13 per cent of our nation's cotton crop."
Treasurer Wayne Swan: (link)
FEDERAL Treasurer Wayne Swan stands by his decision to sell Australia's largest cotton farm to a Chinese-dominated consortium, saying jobs would have been lost without this investment.Is Wayne selling Cubbie? (Perhaps that should read -"Swan stands by his decision to allow the sale of ...)
If jobs are saved, that's a small plus. However, he could save many more jobs by reverse his insane decision to introduce the (hysterically inaccurate - link) notion of a carbon tax. Or the MRRT. Even if the jobs at Cubbie are not taken by Chinese coolies, he has lost 1000 Fortesque jobs in mining. (Link)
Nationals Party Leader Warren Truss: (link)
"While capital flow is welcomed, the treasurer must explain how a purchase of this scale will not compromise market competition or pricing for Australian cotton, with Cubbie representing around 10 per cent of our national cotton crop."If all that cotton goes offshore, there is less local cotton for Australians, and the local price should rise. Is that in the National interest?
And if, the cotton goes from a Chinese Australian farm to China for Chinese consumption, there is no local income tax on the "sale" of the cotton. Is that in the National Interest?
Opposition Treasury Spokesman Joe Hockey: (Link)
"I speak on the foreign investment policy of the Coalition. We support the Foreign Investment Review Board.''Foreign Investment is good for Australia if it develops the country and its assets. However a sale of a local company, which should, in principle, pay tax to the coffers, to an overseas conglomerate that will not pay any tax to Australia can not be in the National Interest and certainly does not develop the country.
Queensland Nationals MP George Christensen: (link)
"It's not just Barnaby Joyce. It's the majority of the National Party."Wayne Swan and the FIRB should let the Australian populace know how the sale of
- Australia's biggest farm by value;
- Australia's Biggest Water Licence;
- Transfer of Ownership (which does not equate to Foreign Investment);