LNP throws future foreign investment into jeopardy

Published Wednesday, 02 December, 2015 at 11:35 PM

Minister for Agriculture and Fisheries and Minister for Sport and Racing
The Honourable Bill Byrne

Tonight the Liberal National Party has let down Queensland and put at risk the future economic growth of this state.

Minister for Agriculture Bill Byrne said the LNP/Katter’s Australian Party Sugar Industry (Real Choice in Marketing) Amendment Bill 2015 has put a dark cloud over Queensland.

“Thanks to the LNP, a Bill that substantially re-regulates the sugar industry has passed through the Queensland Parliament, putting directly at risk 16,000 sugar industry jobs, future foreign investment and a billion dollar sugar industry,” Minister Byrne said.

“The Palaszczuk Government has immediately referred this Bill to the Australian Competition and Consumer Commission for determination of breaches of the Competition and Consumer Act.”

Minister Byrne said the legislation will significantly degrade ownership rights from the sugar industry’s newest investors.

“Foreign investors have come in and invested in a deregulated industry and now the Parliament has turned around and re-regulated that industry and significantly degraded their ownership rights,” he said.

“Anyone with any common sense would see these legislative changes will send the wrong message to those countries we have signed free trade agreements with.

“This LNP legislation sends out the wrong message to foreign investors.”

 

 

Media Contact: Michelle Connolly: 0478 325 738