This is the Business Council of Australia’s submission to the Productivity Commission’s National Water Reform issues paper.
The Business Council continues to support the development of regulatory frameworks in water markets that can pave the way for private investment in water assets. The sale of public water assets to the private sector, within appropriate regulatory settings, can improve operational efficiency and allow governments to reinvest the proceeds in new infrastructure projects. It is also vital that jurisdictions continue to remove unnecessary regulatory restrictions so that water markets can properly function.
Finally, the Business Council suggests that all future reviews of Australia’s National Water Reform progress also looks at how jurisdictions are adapting their water resources to the effects of climate change.