Barnaby Joyce doesn't want S Kidman farms to fall into sovereign wealth government hands

Barnaby Joyce, the Federal Agriculture Minister, has backed calls for a veto on foreign governments being allowed to buy Australian farmland.

Mr Joyce said he had no issue with private foreign companies buying farms, agribusinesses or food processing assets because they “come and go” depending on the financial returns they earn.

“I just don’t want to see agricultural land owned by foreign governments,” Mr Joyce was reported as saying to The Australian.

“The land we stand on is intrinsic to our values and identity as a nation. I wouldn’t want to see Australian farmland become under the control of the government of another nation.”

The comments come as the Kidman cattle empire is for sale with $350 million hopes.

Prime Minister Tony Abbott said in Canberra this morning that the government had "always taken a special interest in foreign governments buying anything in Australia, including land.

"Any foreign government investment in Australia is subject from the first dollar to Foreign Investment Review Board scrutiny and that’s the way it should be.

“(Mr Joyce) was simply making the point that when it comes to foreign governments as opposed to private businesses from overseas different rules apply.

"They always have and, as far as I’m concerned, they always will.”