Treasurer Joe Hockey must better explain his reasons for blocking ADM's offer to Graincorp shareholders.
Tony Abbott promised that Australia would be open for business – and Joe Hockey has ensured today that this is another broken promise from Tony Abbott.
Joe Hockey’s decision without proper explanation sends the wrong signal to potential investors.
To fully capitalise on the dining boom, our agriculture sector will require billions of dollars in investment. By necessity, much of that investment will be foreign investment.
Joe Hockey also needs to explain how he now plans to address what Graincorp Chairman Don Taylor has described as the inevitable further rationalisation of its grains storage assets, a rationalisation which can only be to the detrimental of many growers.
Treasurer must clarify the reasons for his decision - the future of Australian agriculture needs to have certainty.