‘Buyback cap good news for irrigators’

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UPDATE: A cap on water buybacks has been welcomed by various industry bodies and stakeholder organisations. A CAP on water buybacks has officially passed through the senate, a move that has been welcomed by industry bodies and irrigators.

The cap was passed as part of amendments toMurray-Darling Basin Plan legislation capping federalgovernment water purchases, known as buybacks, at 1500 gigalitresunder the Basin Plan.

NSW Farmers water spokesmanand MIAirrigator Helen Dalton saidthecap wasan important component of the workability of the Basin Plan.

“The amended legislation will provide security and certainty to irrigators and Basin communities,” she said.

“The cap is also a sign that the government is acknowledging the significant social and economic impacts that large-scale removal of productive water out of the Basin has.”

The National Farmers’ Federation (NFF) has alsowelcomed the passing of thelegislation.

NFF Water Taskforce chairman Les Gordon said the peak farm body hadlong advocated for thekey election commitment to be met.

“The bipartisan support for the 1500GL cap on water buybacks gives farmers and processors in the basin more confidence to continue investing in agriculture,” he said.

“The announcement shows the parliament has listened to these communities and responded to some of their concerns.”

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