The former water minister, Barnaby Joyce, is copping questions about an $80 million taxpayer-funded water buyback.

The deal was made with a company based in the Cayman Islands, which was co-founded by the now-Energy Minister Angus Taylor.

He stepped down as a Director before entering parliament in 2013.

There are claims that the Government might have overpaid when it struck the deal, by as much as double.

So did the Government get ripped off, and if so, how? Did that $80 million do our river systems any good? And where is that $80 million now?

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Michael West, independent journalist

Quentin Grafton, Professor of Economics, Crawford School of Public Policy, Australian National University