Abstract
The federal government has announced a new round of strategic water buybacks in the Murray-Darling Basin. The government intends to purchase water entitlements from voluntary sellers in parts of New South Wales and Queensland.
A total of 49.2 gigalitres (GL) will be purchased across seven catchment areas through open, competitive and transparent tenders. This water will then be returned to the environment.
The government decided to restart buybacks because other methods, such as water-saving and offset measures both on and off farms, have been less effective and won’t be achieved in time. There is a 49.2GL “gap” between the current revised 2,075GL target set for June 30 2024, and the amount of water recovered so far.
The Morrison government effectively stopped using buybacks as a tool when Barnaby Joyce became federal water minister. Over time, the Murray-Darling Basin Plan – and buybacks in particular – became a focal point of blame for all kinds of problems in rural communities.
A total of 49.2 gigalitres (GL) will be purchased across seven catchment areas through open, competitive and transparent tenders. This water will then be returned to the environment.
The government decided to restart buybacks because other methods, such as water-saving and offset measures both on and off farms, have been less effective and won’t be achieved in time. There is a 49.2GL “gap” between the current revised 2,075GL target set for June 30 2024, and the amount of water recovered so far.
The Morrison government effectively stopped using buybacks as a tool when Barnaby Joyce became federal water minister. Over time, the Murray-Darling Basin Plan – and buybacks in particular – became a focal point of blame for all kinds of problems in rural communities.
| Original language | English |
|---|---|
| Specialist publication | The Conversation |
| Publication status | Published - 24 Feb 2023 |
| Externally published | Yes |
Keywords
- Water
- Resource management
- Buybacks
