In NFF’s view, the Rushy Lagoon transaction has exposed a failure in Commonwealth process that warrants closer scrutiny. Legitimate questions remain about whether agricultural and broader community interests were properly considered through the relevant funding and approval processes. Concerns have also been raised about whether prospective purchasers may have been disadvantaged and whether potential conflicts of interest were identified and managed as necessary. Irrespective of the ultimate land-use decision, these issues have affected confidence and trust in the integrity of the decision-making process and demonstrated the need for stronger safeguards and potential reform.
Of particular concern is the use of Clean Energy Finance Corporation (CEFC) finance to support the acquisition of Rushy Lagoon which has attracted significant concern across the sector. Agricultural land is a strategic national asset that underpins Australia’s food and fibre production, export industries, regional communities, and long-term food security. While the CEFC has an important role to play in supporting Australia’s transition to a low-emissions economy, the use of public finance to support the acquisition and transformation of a significant agricultural property in the face of strong local opposition and perceived conflicts of interest has raised legitimate questions about the adequacy of investment decisions involving agricultural land.
View NFF’s full submission here.