Minister for Resources and Water, Keith Pitt, today welcomed initial advice, supported by Murray-Darling Basin states, to progress practical water market reforms.
"The Liberals and Nationals Coalition have been listening to communities in the Murray-Darling Basin who want practical solutions - this advice is yet another step in delivering this," Minister Pitt said.
"A mandatory code of conduct for water market participants, measures to improve transparency of water market information, and changes to ensure a level playing field for all entitlement holders are some of the recommendations presented within the initial advice.
"Importantly, there's a commitment to improve regulation to better protect against potential market manipulation and maintain confidence in the system.
"This is an important step in delivering water markets that operate more effectively and efficiently and don't burden users with unnecessary costs.
"I want to thank our Principal Adviser, Daryl Quinlivan, for providing well considered advice early in the Roadmap development.
"I also extend my thanks to the Advisory Group members for their early engagement in this process - along with the stakeholders and communities who have taken part in consultation to date.
"State Governments have been and continue to be well engaged in the development of the advice.
"Water markets give farmers a critical tool which enables them to manage their business enterprises.
"This advice is a down payment on the Roadmap that the Principal Adviser will deliver in June 2022.
"I look forward to receiving the final advice on how cost effective, practical reforms can be implemented to improve water markets for all users."
To see the December advice visit the Department of Agriculture, Water and the Environment's website.
