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Australia's current water shortages reflect policy mistakes going back many decades, argues John Quiggin. It will take at least a decade to resolve the resulting problems. A policy of delayed repurchase of water rights could form part of a cost-effective solution.
Labor has yet to announce the tax policy foreshadowed as a response to the 2004-5 Budget. But, as Kim Beazley's 'small target strategy' in 2001 demonstrated, this approach can be disastrous.
John Quiggin argues that Labor needs to announce a coherent tax and expenditure...