Competition watchdog’s report scathing in assessment of how markets are operating, saying patchwork system opens way to market manipulation
The Australian Competition and Consumer Commission has proposed a possible federal takeover of the water markets in the Murray-Darling Basin, licensing of water brokers and new robust rules and oversight in order to ensure the $1.5bn water market operates fairly.
But the report, which delivers a scathing assessment of how the markets are operating, does not support a return to the old system that existed before the Murray Darling Basin plan, where water entitlements were tied to land.
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