|
|
|
Buy-back goals in doubt
2 Jun 2008
A new report says that the government's water buy-back scheme would need to snap up every water allocation sold for the next 14 years in order to achieve its aim of returning 1500 gigalitres to the system. Waterfind in Adelaide says having only one buyer would mean that irrigation communities had no access and that prices would be distorted. The report calls on the government to cap its purchases at 30 per cent of the total water volume available to farmers, in which case it would take 47 years for 1500 gigalitres to be purchased. Waterfind says that if prices continue to rise at 15 per cent each year the $3.1 billion set aside by the government would only be enough to buy 540 gigalitres.
The Australian Financial Review, 2/6/2008
|
|
