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Farmers celebrate water victory
28 Jun 2004
The Federal Government has succeeded in getting the states to sign up to a landmark national water agreement. The deal gives farmers long-term security over water access rights. It also paves the way for water trading and establishes a new commission to monitor water regulation. Farmers hailed the agreement as delivering more than they had hoped for.
On the issue of who should pay if farmers have to forfeit part of their water rights for environmental reasons in the future, the deal states that farmers must give up the first 3 per cent without compensation. The cost of returning the next 3 per cent would be borne two-thirds by the commonwealth and one-third by the states and commonwealth. Further water reduction costs would be shared equally between federal and state governments.
National Farmers' Federation president Peter Corish said it was a great victory for the NFF and a great outcome for Australian farmers.
Australian Financial Review, 26/6/04.
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