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Thousands of protesters gathered at Tocumwal Foreshore before marching across the bridge in protest. Photo: Tom McConnell

ACCC Report

ACCC Report

Thousands of protesters gathered at Tocumwal Foreshore before marching across the bridge in protest. Photo: Tom McConnell

ACCC Says Water Market Is "No Longer Adequate"

The ACCC have released a damning interim report that's examining tradeable water rights in the Murray Darling Basin.

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The interim report considers options to enhance markets for tradeable water rights, including to enhance their operations, transparency, regulation, competitiveness and efficiency.

The report's summary states that;

"The ACCC's interim conclusion is that the governance, regulatory and operational frameworks supporting water markets have not developed to accommodate a market of this scale and are no longer adequate."

The inquiry into the water market of the Basin has been conducted in response to a direction given by the Treasure, Josh Frydenberg.

The ACCC is seeking further feedback from stakeholders in response to the issues raised in the interim report, including through submissions.

Submissions to this Interim Report are requested by 28 August 2020.

To read the full report you can go to; https://www.accc.gov.au/focus-areas/inquiries-ongoing/murray-darling-basin-water-markets-inquiry/interim-report

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