Katter calls for foreign ownership limits 

Katter talks sense on foreign ownership.

The worst thing about Australia’s foreign investment regime is that it wrongly confuses the transfer of ownership of assets to foreigners, whereby no real investment (capital deepening) takes place, with genuine foreign investment.

The former (which is the dominant source) is akin to “selling the family jewels”, and should be discouraged, whereas the latter actually adds to the nation’s productive capacity, and should be encouraged.

If a foreign entity wants to set-up a factory or a new industry in Australia. Fantastic. But if it merely wishes to buy an existing asset (home, farm, etc) and not undertake any productive enhancements, then it should be disallowed. Otherwise, we are ‘selling-off the farm’ and our children’s future, pure and simple.

Finally, given the widespread reports about banks manipulating the bank bill swap rate, mortgage fraud, and overall dodgy lending standards, Katter’s call for a banking Royal Commission also makes a lot of sense, since it may be the only way to get to the bottom of their systemic dodgy practices.

Hopefully Katter will hold the balance-of-power in the lower house and can extract some policy action in these areas.

Katter calls for immigration, foreign ownership limits

5 Comments Add yours

  1. Bill Waldie says:

    You will not get anything done backing Malcom I can garrantee that

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  2. Dennis says:

    There’s some valid points there. Don’t sell off the family jewels. But i’d be ok with leasing them in some cases.
    Then there’s putting what should be “secure sites” like ports that shouldn’t end up in foreign hands.
    And OS citizens buying houses for their own personal use. That’s cool too. (Try buying a house as a foreigner in some other countries. It just doesn’t happen) But not buying up dozens of investment houses & pushing first home buyers & the like out of the market. And I’m cool with higher density housing like aparment buildings being owned & built by foreign owners.
    It’s all about common sense & balance.
    That’s my opinion anyway.

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  3. Trish says:

    Hi bob check out
    Australian Lima declaration
    You will see this is the reason Australia is going down the gurgles
    Just trying to wake up Australians before it is too late — probably is

    Like

  4. Rodney Geary says:

    We can do what other countries do anyone can invest in Australia if 52% of what is formed is owned by an Australian and are subject to all laws of the land

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  5. Rodney Geary says:

    why can’t we do as other countries have don’t 52% if any investment must be owned by an Australian person or company and are subject to all the laws of the land

    Like

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