The revelation today that the sale of the Van Diemen’s Land Company has not resulted in the promised jobs and investment just proves that all of these claims were unfounded, and that those who opposed the sale were right all along.
Naïve politicians, including the Federal Government, the Federal Opposition, the Tasmanian Government and the Tasmanian Opposition, all jumped on the bandwagon and claimed that selling VDL to another foreign buyer would be great for the economy and generate jobs.
Indeed Scott Morrison himself said that it would “generate an intended additional investment of over $100 million and an expected additional 95 jobs”.
Moreover VDL is a genuinely strategic economic asset and the Federal Government should have taken the opportunity of its sale by the previous New Zealand owners to bring it under Australian control.
That there were potential Australian buyers intent on expanding and value-adding the operation should have made the Federal Government’s decision even easier.
That is what would have generated jobs and investment in Tasmania – not hollow promises backed by gullible politicians.
• Peter Whish-Wilson: Morrison should review VDL FIRB decision in light of claims of about investor’s financial position … “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 …
• New York Times: A Deal for an Australian Dairy Wrapped in Layers of Chinese Loans … Here was a proposal from a savvy Chinese investor,” said the chief executive of VDL Farms, Evan Rolley, a former state government official. …