This morning, NSW and the Commonwealth announced a deal that will see the lifting of NSW’s embargo on water trading. Acting Prime Minister Gillard and acting NSW Premier Nathan Rees concluded a Memorandum of Understanding earlier in the week.

The announcement of the deal has been in a strange limbo since it was concluded some days ago. The NSW Irrigators' Council's Andrew Gregson issued a press release early yesterday morning welcoming the deal. There had been no leak: instead, Gregson had been told the announcement was imminent and that the lifting of the embargo would be gazetted by NSW Water Minister Phil Costa yesterday or today.