This report follows the positive outlook for agriculture presented by Treasury Secretary Martin Parkinson earlier this month, as posted at Queenslnd Economy Watch: Treasury forecasts agricultural boom.
The most controversial aspect will surely be the call for foreign capital to reap the opportunities:
Australia's farming sector could generate an additional $1.7 trillion for the economy by 2050 if the capital is invested, the report added, but the lack of capital in Australia makes it difficult for Australia's farmers to compete with those in New Zealand and South America.On the same day Australia's largest listed agribusiness Graincorp went into a trading halt following a large transaction with a takeover offer imminent. Also noted was that Australian Agricultural announced it would proceed with an abattoir near Darwin while still in negotiations with potential investors in the project.
Anyone who happens to be in Sydney on November 14 (eclipse day) can catch what could be an interesting debate on foreign investment is out of control. Bob Katter, Alan Jones and Frank Stilwell will line up for the affirmative against Peter Costello, Tim Wilson and Steve Kates.
Wilson is from the IPA which has been actively pushing economic zones in the north to foster development, which I have always thought a somewhat curious policy coming from the IPA. The combination of Stilwell (Sydney University) with Jones and Katter is also somewhat eclectic.
The inclusion of Catallaxy ranter Steve Kates (RMIT) for the opposition balances things with a moon-bat academic economist from both the left and right on opposing sides.