The rebound effect is an indirect increase in the consumption of natural resources (energy, water, other inputs) due to technological improvements that increase the efficiency of an industry (output increase) and therefore the disposable income and employment. As agriculture is highly depended on water and climate change leads to desertification and water scarcity, policy makers strive to increase water productivity through irrigational advances. However, water consumption remains the same or even increases as a result of the rebound effect. Water pricing is suggested as a solution for policy makers but with ambiguous results since it focuses solely on output generation and neglects income and employment parameters of the economy. In this presentation, two water trade-off multipliers are introduced for the first time. An empirical study that incorporates the impact of income increase and job creation on water consumption as a result of CAP 2014-2020 water saving actions corroborates our hypothesis.