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Media Release
Federal Minister for the Environment and Heritage
The Hon Dr David Kemp, MP

13 May 2003

Budget Harnesses Market Forces to Protect Environment


A $10 million programme to pilot the use of financial incentives for better land and water management, for example through salinity and water trading schemes, is part of a major Government push to harness market forces in environmental protection, Federal Minister for the Environment and Heritage, Dr David Kemp, announced today.

“The 2003-04 Budget supports innovative programmes across my portfolio that will help to recognise the value of our soil, water and biodiversity and the services they provide to us, and create markets to help ensure these vital resources are used wisely,” Dr Kemp said.

“By encouraging sound environmental management through trading schemes, tax benefits, investment incentives and new accounting systems, we will not only protect these precious resources, but give Australians an economic incentive to manage them as efficiently as possible.

“We estimate that land and water degradation costs Australia more than $3.1 billion each year. We also need to stop taking for granted the many free services the environment provides, such as water purification, soil fertility and pollination.”

Other programmes that use the market to better manage the environment include:

Media Contact:
Catherine Job Dr Kemp’s office (02) 6277 7640 or 0408 648 400

Commonwealth of Australia