IF THE Victorian Government is the main tenant in La La Land, then the Productivity Commission's latest report, Towards Urban Water Reform: A Discussion Paper must be the rent book. Its drift is plain. There is no problem with water supply that a competitive market couldn't fix. "Ultimately, it is possible to envisage an evolution to a fully decentralised urban water market involving many retailers and wholesalers offering different forms of product (for example price and security). However, an important caveat is that such arrangements do not operate elsewhere in the world."