“Water, particularly irrigation, underpins the health and wealth of our business, our community and our environment and it is essential we do better when it comes to policy and accountability, which is why I have a transparent water bill currently before parliament,” Mrs Dalton said.
The bill supports a searchable, transparent water register without giving away the private details of people who own Australian water.
The bill is based on ACCC recommendations from the Murray- Darling Basin water markets inquiry final report released in 2021, which found there were significant deficiencies in current water trading arrangements and called for a transparent water register.
Water ownership figures from 2021 show over 10 per cent of Aussie water is now held by foreign investors, namely Canada, China and the United States.
“Foreign investors can buy and trade water however taxation laws restrict the release of information which could identify, or be used to identify, an individual or entity.
“We have a Foreign Investment Review Board but they are not interested in water, they don’t screen water purchases.
“It really, really is the wild west.”
While Mrs Dalton acknowledged there is a need for a level of foreign investment in Australia, she doesn’t support foreign ownership of water.
“Last year I was successful in changing a state regulation to ensure all New SOuth Wales MPs in the future have to declare their water interests on the pecuniary interest form.
“This is one step closer toward transparency and I will continue to push for a public water register if I am re-elected,” she said.
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