Foreign Investment Review Follows Strong Palmer Campaign

Federal Member for Fairfax

Media release

Foreign Investment Review Follows Strong Palmer Campaign

Member for Fairfax Clive Palmer says the Federal Government’s review of foreign investment rules was a victory for the Palmer United Party which has campaigned strongly over the threat of foreign ownership since formation.

The Palmer United Party has strongly advocated against the sale of Australian assets to Chinese state owned companies, including a campaign launched in January 2015 to stop the potential sale of $50 billion in Queensland and NSW assets to the foreign government.

“I am pleased to see that finally Treasurer Scott Morrison is now reviewing laws that allows the sale of strategic assets to foreign companies without federal scrutiny,’’ Mr Palmer, Federal leader of the Palmer United Party, said.

“Recent events including bids by Chinese and foreign governments for S. Kidman and Co and the controversy over the lease of the Port of Darwin have highlighted the importance of keeping strategic assets in our own hands.

“The Foreign Investment Review Board needs to flex its power to stop the sale and lease of our assets to foreign investors.

“Our precious assets including our hospitals, ports, schools and power companies cannot be in the firing line, they need to be protected.

“We cannot have the Chinese government or any foreign government deciding how much we pay for essential services and how we live,’’ Mr Palmer said.