THE Federal government will invest $56 million into the development of a national water market.
Announced yesterday by Water and Climate Change minister Penny Wong, it was welcomed by the Victorian Farmers Federation who had been strong proponents of such a plan.
It was, for the VFF, a result they had pushed for for more than two years, according to Water Council chairman Richard Anderson.
“Now that a commitment has been made by government, farmers are calling for appropriate governance arrangements to be put in place,” Mr Anderson said.
“Water trading often involves complex transactions including hundreds of thousands of dollars.
"A National Water Register and Exchange, similar to how information is presented on the Australian Stock Exchange, would provide an effective approach that could address the significant transparency issues involved."
