I think it's appropriate for a national agency. It's the same here in the United States, by the way. There is a need for a national backstopping, for example. When provinces can't agree on what to do, in particular across provinces, sometimes you need that national level of support.
There is no national water policy or plan in the United States. At least there is one in Canada. I understand it's in the process of being revised.
I think this is a perfect topic to really think about priorities for Canada and how to balance the allocation across the competing needs for water in the face of a much more variable climate.