аЯрЁБс>ўџ 46ўџџџ3џџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџьЅС5@ №ПbjbjЯ2Я2 .,­X­Xџџџџџџˆ6666666JŽŽŽŽЂJ-ђЪЪЪЪЪЪЪЪЌЎЎЎЎЎЎ$Rqцв6‚ ЪЪ‚ ‚ в66ЪЪчВ В В ‚ :6Ъ6ЪЌВ ‚ ЌВ В Ь :Р,66HЪО 1 ТЌБШŽМ Іь Ќ§0-іRWb :WHJJ6666W6HdЪZ$ @В d 4˜ ъЪЪЪввJJDŽœ JJŽPublic submission to water market rules issues paper by Garry Duke a member of Northern Victorian Irrigators Inc... on 8th of May 2008-05-07 In presenting this submission we make note of the fact that this paper only works under the assumption that freeing up trade is what must happen and will be for the good of irrigation. We do not assume that but contend that there are dangers in freeing up trade to such an extent that the financial good of those involved in trading should be the yard stick by which we measure success. We relate that to what has happened on the financial markets where people have worked with in the rules provided and good business’s have crashed due to others making a profit by playing financial markets but not actually creating any productivity . We need to be aware that people who are closer to what is happening will see the pitfalls quicker than regulators. This has happened with the evolving of the water market where major mistakes have been made to the detriment of irrigators. For example the trading of untagged water from the Goulburn system back into the Murray cost irrigators on the Murray about 5% of water that they could have been allocated. This is only one of other manipulations that have happened while new rules were put in place. Actions proposed by operators to protect their systems should be looked at closely to make sure it is really about stopping third party impacts. Ref 3.1 page 9 “Water trade creates incentives for users to seek improved technical productivity, innovate and improve water use efficiency.” When looking at figures over what has happened over the past 10 years we have to be aware that they are distorted by the drought. The productivity gains would have happened due to the shortage of water more than through water trade. The cost to the irrigator to make those changes my not be sustainable. A lot of the changes have been made with a factored in cost that assumes we will go back to near normal water harvesting potential. If we don’t the cost is not sustainable. Food prices have risen and are predicted to rise along with an increase in return to farmers. Cost of production along with water costs also are having a huge impact that needs to be kept under consideration If water trade only adds another tier of middle men it will just add to the cost base of producing food. Technical gains will only be taken up by irrigators if we are looking at more than survival returns. Ref 3.1 page 10. “Efficient markets” Should be governed firstly by their affect on productive agriculture. All other characteristics should be looked at through the end result. Ref 3.3 page 11 “Enable a mix of water products to develop” These products should be related to helping to increase water productivity, hence food production not just making water more expensive so as it will be used wisely. Ref 3.4 page 11. “Water provided for the environment is a public good.” The question needs to be asked. At what time did water for growing food cease to be a public good? We would argue that the environment, with the way public opinion is at the moment, has more ability to pay than the irrigator. The irrigator on the other hand can not continue to pay the cost of water with water trade and remain viable. It is unsustainable in the long term Page 12 “ A range of tools and policies can be used to provide appropriate protection of third party interests.” This statement backs up the way we see that water trade as developed. In Victoria, when water trade first started, the documentation mentioned a number of pitfalls. One of which is third party impacts. Nothing was ever put in place to monitor what happens so when the Nation Water Commission did a review of the NWI it mentioned that social impacts still needed to be looked at. This is despite the fact that water trading had at that time been going 10years in Vic. This range of tools needs to be known before we progress with any speeding up of the process. How can you clear away obstructions to water trade if we haven’t looked at the social implications. What is the range of tools?? Question 3. You need to look into the part that managed investments (MIS) will have on the water market, taking into consideration the tax advantages that help them to be a player in the field. You need to look into what part companies like that being run by Peter Corish will have on the long term water market. Has he a pecuniary interest as a commissioner on the NWC and a director of Cubby Station and now chairman of PrimeAg. The Age newspaper on 16th April states that PrimeAg will be buying water rights. The question of 4.1 and 4.2 relates to what we have already written. We need to take into account the third party impacts. These need to be monitored on a continuous basis. Not 10 years after the event when you than have created other potential third party impacts. Question 4.2 Top of page 15 says that the majority of operators in the MDB place some form of restriction on water sales out side their area of operation. Technically the reason for this may seem to be outside the guidelines of the ACC if you stick specifically to the aim of the NWI and water market rules. Morally as this paper states in 3.5 we have to provide appropriate protection of third parties. For this reason we would ask that a study be done as to why operators are putting restrictions on. That it not just be assumed that what they are doing is not in the interests of the ongoing water market. Question 4.3 d. We believe that trading zones should be imposed relating to how far from the source the water is to be used. This would reduce the environmental damage to the river as more of it is used as a channel. 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