The Coalition will move to introduce a Bill to end Labor’s Net Zero obsession that is making Australians poorer and stop taxpayer money being used to help investment funds buy up Australian farmland and turn it into carbon-offset projects.
Under the move the Coalition would introduce new legislation to end Labor’s over $80 billion net zero spending spree and prohibit the Clean Energy Finance Corporation (CEFC) from providing funding or financial assistance to entities to acquire agricultural land in Australia for the purpose of growing trees to offset carbon emissions.
The move follows the sale of Tasmania’s 21,745-hectare Rushy Lagoon property to UK investment firm Gresham House for $142 million, with the taxpayer-backed Clean Energy Finance Corporation providing $69 million towards the purchase.
Around 9,000 hectares of the property is expected to be converted to pine plantation, sparking concern from farmers and regional communities about productive agricultural land being lost to carbon projects.
Opposition Leader Angus Taylor said Australia’s food security should come before taxpayer-backed carbon schemes that take productive farmland out of agriculture.
“Families are already paying too much at the supermarket and the last thing we should be doing is weakening our ability to grow food by turning productive farms into carbon assets,” Mr Taylor said.
“It is extraordinary that taxpayers are being asked to help investment funds outbid farmers for Australian farmland.
“We support practical action to reduce emissions, but it should not come at the expense of our farmers, our food security and the future of regional communities.
“When a farming family wants to expand, they should not have to compete with a foreign carbon fund backed by tens of millions of dollars from the Australian taxpayer.
“This is about putting Australians first, protecting productive farmland and making sure government policy does not push up the cost of producing the food Australians put on the dinner table.”
Leader of The Nationals Matt Canavan said Labor’s net zero obsession was driving up power prices, increasing inflation and shutting down Australian industry.
“At the heart of Labor’s net zero transition is a transfer of Australian jobs overseas and a transfer of wealth from Australian families to multinational companies living off taxpayer subsidies,” Senator Canavan said.
“Under Labor’s net zero ideology, prime Australian agricultural land that should be growing food for Australians is being locked up to grow weeds and breed pests.
“The Liberals and Nationals will repeal Labor’s failed net zero laws and stop taxpayer money being used to buy up the farms that feed us.”
Deputy Leader of the Nationals and Shadow Minister for Agriculture, Fisheries and Forestry Darren Chester said protecting productive farmland was critical to Australia’s food security and the future of regional communities.
“Prime agricultural land is a national asset, and once it is taken out of food production it can be very hard to get it back,” Mr Chester said.
“Regional communities should not be hollowed out so carbon funds can chase credits while Australian farmers are priced out of their own backyard.
“We need to protect our food security, back the next generation of Australian farmers and make sure taxpayer money is supporting regional communities, not working against them.”
Shadow Minister for Energy and Emissions Reduction Dan Tehan said Labor’s climate policies were creating perverse incentives to take productive land out of agriculture.
“The CEFC was established to support clean energy investment, not to bankroll funds buying up Australian farmland for carbon credits,” Mr Tehan said.
“Under Labor, big emitters can find it cheaper to buy offsets than make real changes to their own operations, and regional Australia is being left to carry the cost.
“We cannot allow a situation where productive farms are steadily swallowed up because carbon credits are worth more than growing food, running livestock or giving the next generation of Australian farmers a chance to get on the land.
“This is a sensible safeguard that protects farming, food production and regional communities while allowing genuine forestry and emissions-reduction projects to continue in the right places.”
“This is part of our plan to fix the economy and protect our way of life by putting Australians first, protecting our food security and backing the farmers and regional communities who feed our nation.”
The Coalition will also seek to introduce a bill into the Parliament to abolish Labor’s net zero and carbon taxes to ensure Australians have access to affordable and reliable power.
