Business backs parts of agriculture plan

The Business Council of Australia has welcomed parts of the Abbott government's new agriculture plan but it has some warnings.

Business has backed the Abbott government's plans to invest in agricultural infrastructure and reduce red tape.

But the Business Council of Australia believes the case for a specific consumer watchdog commissioner for the sector, as proposed in the newly released blueprint, was not compelling.

"The ACCC already has a broad remit and responsibility to pursue competition issues, including those facing the agriculture sector," chief executive Jennifer Westacott said in a statement on Sunday.

The council said efforts to improve market access and increase research and development will have a positive impact on the competitiveness of the sector, which has the potential to succeed internationally.

But it called on the government to focus on driving productivity growth through innovation and on co-ordinating supply chains to deliver high quality products which consumers - both at home and abroad - will be happy to pay a premium.

The council warns action to lower the foreign investment review board threshold for rural land and a proposal to lower the threshold for agribusiness investment are of concern.


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Source: AAP


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