Finance Minister Simon Birmingham will plead for foreign investors to return to Australia as Chinese investment evaporates and the Morrison government relies on the private sector to fund its net zero plan.
“Australia is a country that has relied throughout our modern history in terms of foreign investment, helping us to be able to achieve the type of economic scale that we have,” Birmingham said. , which called for coal to be “phased down” but did oppose some earlier language on fossil fuels and has been criticised for not increasing its 2030 ambition.“A fundamental consideration in those who had understandable concerns about making the commitment to net zero by 2050 from an Australian perspective were the commitments that were being made elsewhere around the world,” Birmingham said.
The international pitch will aim to turn around a 48 per cent drop in foreign direct investment in 2020. Chinese investment was down 61 per cent in the same period after tensions with Beijing over human rights and COVID-19 saw Australia hit with $20 billion in trade sanctions. China has accused Australia of wanton interference in its internal affairs, economic coercion and hypocrisy over its decision to scupper the foreign investment deals.
“That perhaps has been one of the more disappointing aspects of the stance China has taken over the last couple of years,” said Birmingham. “The unwillingness to engage in dialogue and that, of course, makes it so much harder to be able to move forward in terms of resolving these types of issues.”
ErykBagshaw lol
ErykBagshaw Can't continue to do it with state gov borrowing... need lots of private sector funds to keep inflation in cheek...... Otherwise we are faceing 10% interest and inflation at 15 %
ErykBagshaw This is hilarious
ErykBagshaw no problem with secret foriegn property investment due to corrupt Coalition JoshFrydenberg
ErykBagshaw Couldn’t possibly be that the Coalition’s insane rhetoric against our largest trading partner has backfired.
ErykBagshaw Well, well, well. You fucked around, so now I guess you're gonna find out.
ErykBagshaw You 'Born to Rule Mob' are too dependent on Business to do Your Job😐THAT'S WHY WE PAY OUR TAXES!!
ErykBagshaw I love a subpar country, A land of Liberal males, Of climate action shirkers, Of diplomatic fails.
ErykBagshaw Sure the French will be queuing up.
ErykBagshaw We’ve no chance of foreign investment due to Scomo’s lack of diplomacy. He does nothing but damage Australia on the world stage. ScoMoHasToGo
ErykBagshaw Don’t you think you burnt that bridge when you lied to the French President and dropped the submarine contract? The world sees Australia as an investment risk now all because of an incompetent government
ErykBagshaw Why would anyone invest in Australia? With our tin pot dictators locking down like nowhere else why would they bother?
ErykBagshaw Who is going to invest in a country that doesn't have any substance in their Climate plan? This shows again how out of touch the ScottMorrisonMP government is with the real world. The Liberals have embarrassed Australia on the world stage!!
MarieColemanAO ErykBagshaw Germo Birmo.
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