Next week’s Budget will be all about saving Tony Abbott’s job and nothing about creating new jobs through investment from overseas.
Tony Abbott has already shown he is prepared to increase barriers to foreign investment in the agriculture sector simply to shore up his support in the Coalition party room.
Australia needs additional foreign investment to scale up production to expand our food exports and fully tap into the growing consumer markets of Asia.
Tony Abbott promised Australia would be ‘Open for Business’, but he has walked away from that promise to save his own job.
This Government’s dishonesty and incompetence is hurting the Australian economy, hurting business and investor confidence, and hurting Australian jobs.
The Government’s lower thresholds on screening of proposed foreign investment in agricultural land send the wrong message to international investors and have been criticised by Australian farm and business groups.
The new rules are a red-tape nightmare for potential investors and will drive them elsewhere at a time when Australian agriculture needs capital.
Tony Abbott should have a clear policy for foreign investment that is in Australia’s national interest - not a dishonest approach where he promises one thing to business and says another to potential investors.