The Shadow Minister for Agriculture wants the Rudd Government to suspend all of its current water buyback tenders and instead spend the $3.6 billion on infrastructure and water savings projects for the Murray Darling Basin.

"An immediate cash injection of $480 million (allocated to current buyback tenders) into country communities to improve on farm irrigation efficiencies and delivery systems would provide much needed jobs and would have a positive impact on country communities," Mr Cobb said.

"Irrigator water allocations are very low again this year and any water entitlements bought by the Rudd Government will only deliver airspace in dams."

Mr Cobb said such a move would also improve the nation's food security.

"The Senate Inquiry into the Lower Lakes and the Coorong has highlighted the fact that the entire Murray Darling Basin is facing an economic and social crisis," Mr Cobb said.

"The Prime Minister is currently arguing that he is bringing forward the $20 billion Building Australia Fund to provide a major stimulus to the economy through infrastructure spending.

"Unfortunately for rural and regional Australia projects in country communities don't even rate on any Labor Premiers priority projects list.

"Spending money on water infrastructure makes good economic sense and will be there for the long term."