LEIGH SALES, PRESENTER: While Labor deals with its rift with the Greens, the Coalition's trying to manage a rift of its own over foreign investment.

High-profile Senator Barnaby Joyce and other National Party colleagues are furious about plans to sell Cubbie Station in Queensland to a Chinese company and they've been pretty vocal publicly.

But that goes against Coalition policy, which firmly backs foreign investment in Australia.

The Opposition Leader has reiterated his support for the policy, but it's the Shadow Treasurer Joe Hockey who's had to pull his National Party colleagues into line, accusing them of "freelancing" with views that don't represent the Coalition's position.

Earlier today, Senator Joyce joined me from Tamworth.

Senator Joyce, are you freelancing with your views on the sale of Cubbie Station rather than speaking for the Coalition?

BARNABY JOYCE, NATIONALS SENATE LEADER: I think it's very important that we understand at this point in time, Leigh, that there's been no transparency in this deal. On a Friday night, basically, Mr Swan put out a decision for which he's given really no explanation about. Even between now and then the closest we've got, Leigh, to an explanation is his Twitter account. Now, we are talking about the largest property in Australia in value. The largest irrigation property in Australia. The largest water licence in Australia in an area that is so sensitive in the Murray-Darling Basin. We're talking about an excess of 10 per cent of our nation's cotton crop.

LEIGH SALES: I'll ask you that question again. Are you freelancing with your views on the sale of Cubbie Station and not speaking for the Coalition?

BARNABY JOYCE: No, I'm not, and I'll answer it directly too. We're talking about the largest water licence, Leigh, and I am the Shadow Minister for Water. We're talking about a very important issue in regional development and this is an area that's absolutely epitomises regional development, Dirranbandi and what we can do for it. We're talking about an issue in Queensland - and I'm senator for Queensland - and we're talking about an issue that is in my backyard, so, no, I'm not.

LEIGH SALES: But both Tony Abbott and Joe Hockey have said that they support the decisions of the Foreign Investment Review Board, so that puts your stated views here at odds with them.

BARNABY JOYCE: Well I'd like to see exactly more details on what the discussions are in the Foreign Investment Review Board because they're confidential papers. Now, the only person who's seen them is Mr Swan and Mr Swan hasn't given Australia any confidence whatsoever in regards to his decision. In fact it's so pathetic the closest we can get to Mr Swan is his Twitter account.

LEIGH SALES: Do you accept that your views are at odds with Mr Abbott and Mr Hockey?

BARNABY JOYCE: I accept that everybody wants something in the national interest. Everybody has said that's in the national interest, and it's quite obvious that Mr Swan has given us no confidence whatsoever that his diligence over this would show that it's in the national interest.

LEIGH SALES: I think we're conducting a different interview here because I'm asking what's going on with Mr Abbott and Mr Hockey and you're talking about Mr Swan. Do you accept Mr Hockey's assertion that frontbenchers like you and Warren Truss have an obligation to support Coalition policy which is pro-foreign investment?

BARNABY JOYCE: Well we haven't been back to Parliament since this decision was made, as you know, Leigh; there's been no cabinet meeting at this point in time and, you know, I think in light of what Mr Swan did and the fact that he put the decision out to sell Australia's largest property, that could actually be broken up.

LEIGH SALES: Have you spoken to Mr Abbott or Mr Hockey in the past 24 hours about this?

BARNABY JOYCE: Yes.

LEIGH SALES: And what was said?

BARNABY JOYCE: That's none of your business.

LEIGH SALES: You don't think that the viewers of this program, the people who vote for you, would like to know what was discussed?

BARNABY JOYCE: No, well because that is a private discussion between myself and somebody else and I'm not - I would not disclose their confidence, and to be honest, people like to have private conversations kept private.

LEIGH SALES: How far are you prepared to go in your opposition to this? Are you prepared to lose your shadow cabinet spot?

BARNABY JOYCE: Leigh, all that's basically a question for the future. I'd never - what I know, Leigh, is that people have an expectation that decisions that are crucial to their nation are properly debated and properly ventilated and that's - you can't look at someone in the face when they ask you a straight question about what's exactly involved with this process say, "Well, you know, I'm going to say nothing because it'll protect my personal position."

LEIGH SALES: Sure, but are you prepared to lose that personal position over it?

BARNABY JOYCE: Leigh, this is - once more, we're taking the debate on an issue about Barnaby Joyce. I couldn't give a toss about my own personal position. This is about the sale of our nation's biggest property, biggest water licence, and also with the Murray-Darling Basin plan at foot, what on Earth do we do? If Cubbie Station doesn't deliver any water back to the environment for environmental purposes, where will that water come from, Leigh?

LEIGH SALES: What do you fear will happen if Cubbie Station is owned by foreigners rather than Australians?

BARNABY JOYCE: Well, I've got no problems with foreign investment, and in fact we've got lots of other properties in our district, Leigh, which are owned by the Chinese, owned by other people and good luck to them. I've fully supported it and you've never heard boo about me over this. The issue with this one, Leigh, it is the biggest property. It has a large stake in a crucial market, in our second biggest export market after wheat, I think, cotton. It's more than 10 per cent of that market. It is the crucial player, the biggest player in our water market, the biggest player in our water market. It is the biggest representation in value of an agricultural asset in our nation. This is exceptional.

LEIGH SALES: But what do you think the Chinese owners would do that isn't in Australia's national interest?

BARNABY JOYCE: Well, Leigh, the question is - they've got conditions on it already, so they've already - they've obviously got concerns already. And so if they've got conditions which shows they've got concerns, then it's not something - a parochial point of view of mine.

LEIGH SALES: But what you're saying is that you don't trust the Chinese owners to run Cubbie Station. Why?

BARNABY JOYCE: Well it's not a case of trusting them or not, it's a case of proper investigation and diligence to explore that fact and we haven't had it. It is the largest farm, Leigh, and where is the proper diligence? I mean, I and you and everybody else deserves a better process of diligence than having to talk to Mr Swan over Twitter to try and find out exactly what's going on with this.

LEIGH SALES: But your Coalition colleagues aren't bothered by this. They have confidence in the Foreign Investment Review Board.

BARNABY JOYCE: Well, Leigh, I have got to, because it's in my backyard, probably have a real focus on this and that's because it is directly in my area. I mean, we're all - we're completely aware of this property. And I don't think that if you even asked Mr Swan to drive to this property he'd be able to find it without a guide. But it's more important than a decision that you just bundle out on a Friday night. Why didn't we have a 90-day review period, as he could have brought in, Leigh? Why didn't he do that? Why is he trying to hide from us exactly what's involved with this?

LEIGH SALES: Barnaby Joyce, thanks for talking with us.