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You can find the current article at its original source at https://www.theguardian.com/australia-news/2016/aug/12/bill-shorten-certainty-needed-on-foreign-investment-in-national-assets
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| Bill Shorten: certainty needed on foreign investment in national assets Bill Shorten: certainty needed on foreign investment in national assets | |
| (4 months later) | |
| The Labor leader, Bill Shorten, says Australians need to decide if certain national assets ought to never be sold to foreign state-owned enterprises. | The Labor leader, Bill Shorten, says Australians need to decide if certain national assets ought to never be sold to foreign state-owned enterprises. |
| He said the Turnbull government’s decision this week to reject the proposed sale of the NSW electricity distributor, Ausgrid, to Chinese bidders was an embarrassment. | He said the Turnbull government’s decision this week to reject the proposed sale of the NSW electricity distributor, Ausgrid, to Chinese bidders was an embarrassment. |
| He said if Australia’s security agencies thought Ausgrid was a strategic asset then they should have intervened in the bidding process months ago to prevent it being sold to a Chinese state-owned enterprise. | He said if Australia’s security agencies thought Ausgrid was a strategic asset then they should have intervened in the bidding process months ago to prevent it being sold to a Chinese state-owned enterprise. |
| “Maybe we need to have a discussion,” he said on Friday. “What are the parts or assets in Australia which we’re just not going to sell to state-owned enterprises? | “Maybe we need to have a discussion,” he said on Friday. “What are the parts or assets in Australia which we’re just not going to sell to state-owned enterprises? |
| “Let’s be upfront about that in a structured fashion, rather than having this sort of chaotic on-again, off-again approach which is becoming a hallmark of this incompetent Turnbull government. | “Let’s be upfront about that in a structured fashion, rather than having this sort of chaotic on-again, off-again approach which is becoming a hallmark of this incompetent Turnbull government. |
| “We need to have a discussion ... about what assets should never be for sale to state-owned enterprises of any country. We can’t just make this an issue about China. | “We need to have a discussion ... about what assets should never be for sale to state-owned enterprises of any country. We can’t just make this an issue about China. |
| “If we want to be known as a reliable destination for foreign investment and we want to maintain our national security, we need to be a lot more upfront with potential investors from state-owned enterprises.” | “If we want to be known as a reliable destination for foreign investment and we want to maintain our national security, we need to be a lot more upfront with potential investors from state-owned enterprises.” |
| The NSW premier, Mike Baird, criticised the Turnbull government on Friday for leaving it until the last minute to raise national security concerns about his proposed sale of Ausgrid. | The NSW premier, Mike Baird, criticised the Turnbull government on Friday for leaving it until the last minute to raise national security concerns about his proposed sale of Ausgrid. |
| He has been trying to sell a 99-year lease on 50.4% of Ausgrid as part of his government’s poles and wires privatisation program, and to raise $10bn from the sale. | He has been trying to sell a 99-year lease on 50.4% of Ausgrid as part of his government’s poles and wires privatisation program, and to raise $10bn from the sale. |
| The final two bidders were China’s largest state-owned company, the State Grid Corporation of China, and the privately owned, Hong Kong-listed, Cheung Kong Infrastructure, controlled by the billionaire Li Ka-shing. | The final two bidders were China’s largest state-owned company, the State Grid Corporation of China, and the privately owned, Hong Kong-listed, Cheung Kong Infrastructure, controlled by the billionaire Li Ka-shing. |
| But the sale was thwarted this week by the federal treasurer, Scott Morrison, who rejected it, on a preliminary basis, on national security grounds. | But the sale was thwarted this week by the federal treasurer, Scott Morrison, who rejected it, on a preliminary basis, on national security grounds. |
| Baird said he accepted the final decision was Morrison’s, and that national security ought to be paramount, but it should have been handled better: “My only frustration, and strong belief, is this should have been resolved much earlier.” | Baird said he accepted the final decision was Morrison’s, and that national security ought to be paramount, but it should have been handled better: “My only frustration, and strong belief, is this should have been resolved much earlier.” |
| The prime minister, Malcolm Turnbull, said on Friday that every national asset was unique and the sale of this one, unfortunately, had to be rejected on national security grounds. | The prime minister, Malcolm Turnbull, said on Friday that every national asset was unique and the sale of this one, unfortunately, had to be rejected on national security grounds. |
| “Each transaction, each asset, is distinct one from the other,” he said. “The national security considerations, as I said, were based on the unequivocal advice from the agencies. | “Each transaction, each asset, is distinct one from the other,” he said. “The national security considerations, as I said, were based on the unequivocal advice from the agencies. |
| “What I can assure you is the advice we received was absolutely unequivocal. This was not a political decision ... this is a decision that was taken with the utmost seriousness by the Government.” | “What I can assure you is the advice we received was absolutely unequivocal. This was not a political decision ... this is a decision that was taken with the utmost seriousness by the Government.” |
| The State Grid Corporation of China, and Cheung Kong Infrastructure, now have a brief window of time to persuade Morrison to change his mind. They are allowed to make new submissions before next Thursday. | The State Grid Corporation of China, and Cheung Kong Infrastructure, now have a brief window of time to persuade Morrison to change his mind. They are allowed to make new submissions before next Thursday. |