Federal Royal Commission Desperately Needed!

The ACCC review of the water market has been released.

The water market formed as a result of the 2004 National Water Initiative, paving the way for the controversial Murray Darling Basin Plan.

Water trading has developed into a $1.5 billion market annually.

There is no regulation of the market.

Water speculators now trade as much as 20% of the market. The ability to hoard our most precious resource in a land of climate variability.

Advocacy groups like Speak Up 4 Water and North Victorian Irrigation Communities have even protested to Canberra for #CanThePlan

What’s different about the ACCC’s report is that it wasn’t commissioned by the Murray Darling Basin Authority (MDBA).

Most ‘independent’ reviews to date have been overseen by the MDBA themselves.

The $13 billion plan to restore the balance of the Murray Darling Basin is implemented by the MDBA.

The MDBA does it all.

It review the progress of the plan, it handles complaints, reviews, it organises independent reviews, it even provides the data and much of the reference material for the independent reviews.

Family farmers have been unable to afford water, the water to grow fodder for their stock or keep crops alive. Has the water market played a role?

Yes.

The ACCC review is proof of that.

With concerns surrounding the Murray Darling Basin Plan already including:

• allegations of government corruption;
• increased conveyance losses;
• erosion of the Murray, Edward and Goulburn Rivers;
• flood plan harvesting;
• SDL project water savings;
• the Darling River disaster;
• food security concerns;
• foreign governments owning water;
• allegations of politicians and their families owning and trading water;
• the draining of Menindee Lakes;

The question is:- do we ride this thing to the ground, or take evasive action?

Read the first 30 pages if you want to know more www.accc.gov.au/focus-areas/inquiries-ongoing/murray-darling-basin-water-markets-inquiry/interim-report