What cost water buy backs
As thousands of farmers converge on Parliament House today (10/09/24), Shadow Water Minister, Perin Davey is calling on the Government halt further water buybacks until it can clarify the true costs.
Senator Davey said recently released results of the previous buyback show the Government has in some cases paid 200% over the going market rate for water products while the cost to the local communities is ignored.
“Back in 2021, analysis conducted by Marsden Jacobs estimated the cost to recover the extra 450GL water via infrastructure would be between $3.4 billion to $10.8 billion dependent on product type,” she explained.
“Fast forward to today and those estimates are behind current market rates which the Government via it’s first water tender has paid on average 20-30% premium on water it has purchased, and in the case of the Namoi up to 200%.
“Taxpayers will need to find billions of extra dollars under Labor’s single solution Murray Darling Basin plan.
“At the same time, farmers and their communities are crying out against the buybacks which they see are undermining their regional economic viability.
“Just this week we have heard from a summit in Bendigo that the dairy industry has seen milk production fall by 35% since the commencement of buybacks under the Basin Plan.
“The number of dairy farms has fallen by 47% across the Basin. This level of consolidation and constriction in an industry is unsustainable.
“People are aware the price of dairy products like cheese and other food staples are more expensive at the supermarket under Labor’s cost of living crisis and will only increase in price as water buybacks smash the regions productive capacity.”
Senator Davey said she stands by the farmers protesting about the Albanese Government’s anti-agriculture agenda.
“Whether it is banning live sheep exports, making business report on scope three emissions – which will flow down to farm businesses, the biosecurity farmer tax or water buybacks; this Labor Government does not care about one of our most productive sectors.
“Cuts to regional infrastructure, covering prime agricultural land in renewables and transmission lines and focussing on inner city issues is increasingly making our regional communities, including the community I live in, feel isolated.
“I congratulate the farmers who are standing together today. I hear them. It is time for this Government to listen.”
Photos: 1. Senator Davey at National Farmers Rally and 2. Senator Davey with Farmers.
