Greens Treasury spokesperson, Peter Whish-Wilson, responds to a report by Angus Grigg in the AFR about Moon Lake’s investment in VDL.
“Reports that the VDL purchaser Moon Lake is in financial trouble are very concerning. Dairy is a large part of the economy of the north-west. It is the job of the federal government to ensure that foreign investors into regional economies do not create further financial instability.
“I am calling on Scott Morrison to review the steps FIRB took in looking at the financial position of this investor.
“I will be seeking a meeting with the Treasurer’s office to understand what steps the Foreign Investment Review Board (FIRB) took to understand just how solid Moon Lake’s financial position was. What assurances did FIRB seek that Moon Lake was able to come good on the deal?
“The Greens helped initiate a Senate Inquiry recently into improving the FIRB process, and these things were supposed to have already been fixed.
“It would appear that Moon Lake’s promised $100 million investment in VDL is potentially at risk. If this is the case, Will Hodgman and Scott Morrison might have thought they were bringing home the bacon, but now have got egg on their face. They were out there, touting this investment as good for Tassie. Yet, it would seem that the offer might have been too good to be true,” he concluded.
Greens Treasury spokesperson, Peter Whish-Wilson
