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Pratt calls for federal water schemes
26 Aug 2003
Businessman Richard Pratt has urged the Federal Government to introduce radical changes in water management, including a system of "water bonds" that would attract investors to schemes aimed at fixing the ageing regional water infrastructure. He also called for tax breaks and low-interest technology loans for irrigators and other farmers to help secure the nation's water future.
Mr Pratt said there's a big risk that this week's Council of Australian Governments meeting will fail to take the steps required to fix Australia's water problems. Issues to be looked at include farmers' rights to water, funding to save the Murray and a national water trading system for farmers.
Mr Pratt says that Australia's water situation is so severe that it's simply not enough for governments to expect markets to fix things. The Government should provide incentives for irrigators and other farmers to upgrade their equipment to new water-efficient means of production. He called for a system of "water bonds" that would channel private funds into major public regional water infrastructure projects. This could help to fund the relining of leaky water supply channels and also provide new aquifer storage and management systems.
The Age, 26/8/03.
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