Rudd’s ‘me-too’ $3bn buyback
Chris Hammer & Peter Ker; 29/4/08
The Federal Government will spend more than $3 billion to buy back water rights in the Murray-Darling Basin, matching the amount committed by the former government. Until now the Government has resisted specifying how much money would be set aside for buying water rights, although it has been testing buybacks with a $50 million pilot program. The water bought under the buyback will be held by a new authority, the Commonwealth Environmental Water Holder. The water will be reserved exclusively to provide environmental flows to the river system.
See: http://www.theage.com.au/news/environment/rudds-metoo-3bn-buyback/2008/04/28/1209234762202.html
Tags: Australia, Environment, Murray-Darling Basin