Ending logging in Victoria now would save taxpayers $192m, budget office estimates

By Adam Morton
The Guardian
April 12, 2020
Category: Business & Politics
Region: International

Ending native forest logging in Victoria immediately, rather than phasing it out by 2030 as the state government plans, would save taxpayers $192m over the next decade, according to an estimate by the state’s independent budget office.  The Victorian Greens asked the Parliamentary Budget Office (PBO) to calculate what it would cost to shut down the native forest timber industry in the state now, including bringing forward the government’s promised $120m transition package for the industry and workers.  The assessment, seen by the Guardian, found there would be an overall $15.3m cost to the budget over the next three years as lost revenue and the cost of the transition package would outweigh savings from no longer paying grants to VicForests, the state-owned timber business.

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