I welcome the decision by the Premier of Western Australia to join the National Water Initiative.
Western Australia's decision to join this historic agreement completes the national coverage of the National Water Initiative to improve the sustainability and productivity of Australia's water resources.
The National Water Initiative, once fully implemented, will provide greater certainty for water investors and the environment and enable Australia's water management regimes to adapt to future changes in water availability responsively and fairly in both rural and urban areas.
Importantly this historic agreement will result in the expansion of permanent trade in water; provide more confidence for those investing in the water industry through more secure water access entitlements; facilitate more sophisticated, transparent and comprehensive water planning; deal with issues such as major interception of water and the interaction between surface and groundwater systems; the provision of water to meet environmental outcomes; result in a commitment to addressing overallocated systems; and provide better and more efficient management of water in urban and rural areas.
The Australian Government is fully committed to the implementation of the National Water Initiative and urges all states and territories to increase their efforts in this important area of national reform.
The Australian Government looks forward to working with Western Australia on the implementation of the National Water Initiative and welcomes the positive direction of policy reform being made by Western Australia to improve the management of its water resources.
The Australian Government also looks forward to working with Western Australia on projects to conserve our precious water resources, so that the people of Western Australia can benefit from Australian Government's $2 billion Water Fund.