Foreign Investment

Challenging the power of big multinational companies.

Advocating Greater Transparency & Accountability

Pete has been a strong advocate for greater transparency and accountability around foreign ownership and the signing of free trade deals. Along with former Greens leader, Christine Milne, he has consistently questioned the benefits of globalisation and highlighted the risks to our nation’s sovereignty of mega trade deals such as the Trans-Pacific Partnership agreement.

Pete has been an outspoken critic of the power that multinational corporations wield in the treaty-making process used to sign Australia up to secret trade deals, which often put the interests of corporations and political parties over people. He has used his experience of financial markets to scrutinise what is really going on with mega trade deals like the Trans-Pacific Partnership as well as foreign takeovers, and his campaigning has been noted globally.

Wins:

N

Established the world’s first parliamentary inquiry into banning secret Investor-State Dispute Settlement (ISDS) clauses set up to allow multinational corporations to sue sovereign democratic governments if they don’t agree with new laws.

N

Initiated a Senate inquiry into Australia’s outdated and dangerous treaty-making process used to secure free trade deals to the exclusion of democratically elected parliaments.

N
Established a Senate inquiry to examine the Foreign Investment Review Board.
N

Established a Senate inquiry to examine the foreign investment process in Australia.

Wants:

q

Ensure that conditions agreed to by foreign buyers of Australian land and assets are met.

i

Include reporting on the value of land in the register of foreign ownership.

l

The trade and treaty-making process to be revised to give more power to parliaments and to remove secrecy.

i

End the carve-out for real estate agents, lawyers and accountants that exempts them from anti-money laundering laws. This exemption allows black money to corrupt investment markets, especially real estate.