If you do nothing else this week send two emails before the election to these two politicians.
Spread the word for your friends to do the same. Here are the reasons why.
Whoever is the treasurer next week will have the final say on the sale of this public company to the US owned ADM. The sale has already been approved by the FIRB (all public servants) and the ACCC. Together these organisations have a history of never saying no to foreign takeovers. Every major food commodity except rice is now majority controlled beyond the farm gate by foreign interests.
It is not foreign investment when they buy our assets and our cash flow. It is takeover.
When foreign companies or countries own the assets beyond the farm gate is makes our farmers price takers not price makers. Foreign owned companies do not pay the same taxes as Australian owned businesses – only 10% withholding tax on their declared profits, and borrow off shore at low interest rates which then adds to our national debt.
We do not count the cost of loss to Australian if these assets are owned by private interests or a public company which does not trade here.
Already 20% of our grain exports are owned by Cargill a private US family company that also controls many of our beef exports and the processing infrastructure. Once Australian grain was sold as the best in the world, now it is bundled in so that the foreign owners’ countries give priority to their own.
25% of Graincorp shareholders have said no. ADM needs 51% to buy the company.
If they want to invest then they can buy up to 49% of the shares and keep the company here so Australians have the chance to invest in our own country and companies.
If Australia is to take advantage of the Asian Century then we urgently need to secure the benefits all Australians will derive.