1 billion labor water plan

Check out this ann. Right up CNM's alley.

Labor pours $1bn into water planBy Lincoln Archer and wires
October 28, 2007 01:49pm
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$1 billion plan for tax credits for water projects
Projects must be carbon neutral to be eligible
Money to be fully available by 2009

A FEDERAL Labor government would commit $1 billion towards storm water harvesting and desalination projects to help secure Australia's urban water supplies if the party wins the federal election, Opposition Leader Kevin Rudd has announced.

Labor’s plan would provide tax credits of 10 per cent - with a capped maximum benefit of $100 million - towards water projects. However the money would not be fully available until near the end of a Rudd government's first term.

The announcement is the first on water policy from either major party, after the issue was thrust on to the national agenda in January by Prime Minister John Howard’s $10 billion Murray-Darling takeover plan.

It also allows Labor to maintain attention on environmental issues, where Environment and Water Minister Malcolm Turnbull is being forced to deny involvement in a damaging leak over Coalition policy on the Kyoto protocol.

All projects to receive funding under the Labor plan would be required to be carbon neutral. Desalination has been criticised for its energy consumption.

”The need to fix urban water supplies and urban water security long-term (is) acute and needs new national leadership,” Mr Rudd has said while touring a desalination plant being built on Queensland’s Gold Coast.

”This $1 billion desalination and urban water plan for Australia is designed to provide funding support for desalination plants across the country and also provide funding support for recycling and other water projects concerning the harvesting of storm water.”

Mr Rudd acknowledged states had not made perfect decisions over the years when it came to urban water supplies, but said the Federal Government had national responsibility to be involved.

The water tax credits would be fully available from 2009 as grants to state and local governments as well as the private sector.

Mr Rudd has said the $1 billion package could leverage up to $10 billion in new water projects.