Media Release

KAP Member for Kennedy Bob Katter has today expressed his outrage at the approval by Treasurer Morrison and the Federal Government of the Kidman and Co sale to Shanghai CRED and Gina Rinehart saying “I would not describe the people in the major political parties as Australians – who knows what they are, but they are not Australians.”

“The rejection of the original application took place, just before the Federal election. I don’t believe it was anything more than an election stunt.

“These low bastards are sneaking through the approval 2 weeks prior to Christmas, when the public are looking elsewhere”.

“We are on record at the time saying “as sure as the sun rises, Shanghai CRED will be back straight after the election dressed in a different suit of clothes”. That new clothes are Gina Rinehart/ Shanghai CRED.

“Does anyone seriously think that Shanghai CRED… with its parent company having put in a bid for the whole lot they’re going to settle for a third?”

Mr Katter has twice asked Treasurer Morrison (Question With Notice dated 12 October and a Question Without Notice dated 8 November) for an unequivocal assurance that Kidman and Co ‘will not shift to foreign control after the sale to Shanghai CRED and Rinehart’.

The Treasurer’s responses did not provide an unequivocal assurance that the majority ownership of Kidman and Co will not be shifted to the foreign corporation.

“Fifty-one per cent of Australia's land mass is registered as desert lands, 21 per cent is Aboriginal lands without title deeds, precluding pastoral activity, and seven per cent is National Parks, leaving only 25 per cent—180,000 hectares—available for agriculture. Australia's five biggest farming operations—the Ord Stage 2, Van Diemen's dairies, Cubbie, Nicoletti grains and Terra Firma—are all foreign owned. They gave, not sold, the Ord River to the Chinese. Stage 3 along with Stage 2 will easily be the biggest farming operation in Australian history.”

“There is not the slightest shred of benefit to Australia with any of these deals. With the Ord Stage 3 it could have been developed by Australia.

“With Kidman, if the stations are owner-operated they would produce a $400m a year, whilst the current production estimates seem to be $300m a year. Owner-operator stations have a 30 percent higher production level than corporate run stations.

“Since a third of $300m or more will be going overseas, we have a $200m benefit to the Australian economy instead of a $400m benefit.

“Thank you Mr Liberal Party, Thank You Mr National Party, Thank You Mr One Nation Party – Pauline Hanson approved of this sale.

“We appreciate the tiger opposition of Senators Xenophon and Lambie. But to no avail, the country continues to be sold out.

This Parliament Mr Katter reintroduced the Foreign Acquisitions and Takeovers Amendment (Strategic Assets) Bill 2016 that seeks to prevent foreign companies from acquiring a 10 per cent or greater interest in Australian land, water or other assets that are either of “strategic economic importance” or “strategic defensive importance” to Australia (i.e. the Kidman holdings).

“When you’ve been a Member of Parliament for 42 years you can smell a rat from a mile away and this rat is very very smelly indeed.”

##ENDS##