ANNA LORCK: Thank you, Madam Speaker. So this bill will embed a higher threshold for foreign investment in farmland. Farmland has significant economic and cultural value, and New Zealanders are world leaders in the primary sector. Reflecting on these factors, this bill embeds a higher threshold for the acquisition of farmland. In general terms, this means that farmland cannot be acquired by overseas persons unless they offer substantial benefits to New Zealand, such as the creation of jobs or the introduction of technology. Farmland must also be publicly advertised before entering into an agreement to sell, to maximise the chance of a New Zealander being able to acquire it. 