WATER PURCHASE FUND

Mr WILLIAMS (MacKillop) (14:32): Again, my question is to the Minister for Water Security. What has happened to the Premier's very public promise to establish an irrigation water purchase fund? On 15 November last, during the federal election campaign, the Premier produced a media release which called on the Prime Minister to provide federal government loans, administered by private banks, for the purchase of water entitlements. The Premier said the federal government should deposit $250 million with the major banks to fund irrigation growers with permanent plantings at an interest rate of 3.5 per cent for the purchase of leased water for a period of up to three years. Since the federal Labor government was elected, the Premier has fallen quite silent on his proposal.

The Hon. K.A. MAYWALD (Chaffey—Minister for the River Murray, Minister for Water Security, Minister for Regional Development, Minister for Small Business, Minister Assisting the Minister for Industry and Trade) (14:33): There was a proposition that was put forward by the irrigation community for the federal government to consider longer term low interest loans for irrigators to be able to purchase water. It was rejected by the Howard government and it has also been rejected by this federal government.

Members interjecting:

The SPEAKER: Order!