Bridget Archer and Gavin Pearce urge Prime Minister to intervene in Rushy Lagoon sale

Acting Tasmanian Premier Bridget Archer has urged Prime Minister Anthony Albanese to intervene in the sale of Rushy Lagoon.

Yesterday, Federal Treasurer Jim Chalmers approved the sale of the farm.

The property is being sold to the Tasmanian Natural Asset Trust, which is managed by Gresham House, the UK's largest forestry asset manager.

Located near Cape Portland on Tasmania's far north-eastern tip, the sprawling 22,000-hectare property has been operating as a massive dairy, beef, and cropping facility and is being sold by the estate of New Zealand's Pye family, which has owned it since 1996.

The transaction is believed to be valued at more than $100 million and, controversially, includes taxpayer-backed financing through the involvement of the Clean Energy Finance Corporation (CEFC), which subsidises deals that generate carbon credits.

The UK-based buyer plans to convert the historic 22,000-hectare dairy and beef farm into a vast pine and timber plantation, tapping into Australia’s newly established Nature Repair Market to earn biodiversity credits alongside carbon offsets.

Ms Archer said Australian taxpayers have bankrolled a foreign company to buy up massive tracts of land in Tasmania and turn productive agricultural land into tree plantations for carbon credits.

"Rushy Lagoon is one of Tasmania's most significant farming assets and has made a major contribution to our dairy, beef and cropping sectors for decades,” she said.

"We are calling on the Prime Minister to step in and reverse the decision of his Treasurer."

Tasmanian Primary Industries Minister Gavin Pearce said the approval of the sale was a case of Canberra being out of touch with regional Tasmania.

“Our farmers have been loud and clear on the impacts this decision will have,” Mr Pearce said.

“Tasmania’s worldwide reputation for excellence in agriculture has been built on the back of farms like Rushy Lagoon.

"Our farmers are the world’s best, and they deserve a Federal Government that recognises that.”

Labor Senator Helen Polley hit back at Ms Archer and Mr Pearce over their comments.

“The Tasmanian Liberal Government's reckless commentary on investment in the future of Northern Tasmania is ill-timed and will damage investor confidence in our state,” Senator Polley said.

“Talking down investment sends the worst possible message, at the worst possible time, for Northern Tasmania.

“The Tasmanian Liberal Government should be embracing new opportunities, not talking down investment which will hurt Northern Tasmania.

“The Premier must be the adult in the room and be clear on backing investment in new jobs and new opportunities for Northern Tasmania.”