Article 3JPKZ ‘Monty Pythonesque’: $80m water buyback was 25% more than asking price

‘Monty Pythonesque’: $80m water buyback was 25% more than asking price

by
Anne Davies
from Environment | The Guardian on (#3JPKZ)

Australia Institute says commonwealth paid far more than initial price for Condamine-Balonne river system buyback

"Monty Pythonesque" is how the Australia Institute has described the federal government's decision to pay $80m for a water buyback in the Condamine-Balonne river system in Queensland last year.

The Guardian reported this month that the company selling the water to the commonwealth, Eastern Australian Agriculture, had immediately recorded a $52m gain on the sale of its water in July 2017. The company itself had valued the water rights much lower in its accounts.

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