00:01The sale of the state's largest farm to a buyer that plans to convert half of it to pine plantations
00:08has angered farmers, but Private Forest Tasmania says this type of land use conversion is common.
00:14Forestry needs agriculture, agriculture needs forestry, they really should be co-existing at a land state level in the Tasmanian
00:23economy.
00:24Yesterday, Federal Treasurer Jim Chalmers approved the sale of Rushy Lagoon to a trust involving British forestry investor Gresham House.
00:33The deal was considered by the Foreign Investment Review Board, the land's productive capacity described as marginal.
00:40This is still productive land. It may be described as marginal. There is farmland right across Tasmania that would be
00:47described as marginal. That is still productive land.
00:50The New Zealand owned property had been for sale on and off since 2018 with a range of bids made
00:56including by Tasmanian farmers.
00:58The successful buyer plans to carry out ecological restoration and cattle farming with ongoing costs to be offset using carbon
01:06credits.
01:07Half of the $143 million project was funded by the Federal Government's Clean Energy Finance Corporation.
01:14Why should the Federal Government incentivise foreign companies to buy up agricultural land in Tasmania for carbon credits?
01:25The Acting Premier has written to Prime Minister Anthony Albanese urging him to intervene to prevent the sale.
01:32Tasmania's Federal Labor representatives have backed the Treasurer's decision.
01:36My hope is that the company can be transparent with the community about what the next steps are, where the
01:42job opportunities might be coming from and when.
01:44Tasmania's Federal interesante
01:47You
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