AFPA has welcomed the opening of the next round of the Federal Government’s successful Support Plantation Establishment Program (SPEP) for Australia’s sustainable forestry industry.
As part of the Forestry Growth Fund, Federal Minister for Agriculture and Forestry the Hon Julie Collins MP today announced the latest round of vital plantation grants under the SPEP, which will open for industry on Thursday this week.
AFPA Acting CEO Richard Hyett said the funding was a welcome boost and recognition of the strong government-industry partnership delivering important growth and investment across the sector.
“Given the current economic and trade challenges facing our sector, this latest round of funding is essential and will continue to reverse declining plantation investment while strengthening regional economies, future timber supplies and Australia’s sovereign manufacturing capability,” Mr Hyett said.
“We sincerely thank the Government for supporting plantation expansion and providing the long-term policy certainty needed to grow Australia’s renewable forestry industries.
“The funding for new plantations will help to provide future timber supplies, support carbon sequestration and biodiversity, and play a fundamental role in meeting Australia’s housing and construction needs.”
The SPEP has so far provided more than $72 million in funding to support almost 40,000 hectares of hardwood and softwood plantations across Australia.
“Before the introduction of this program, plantations declined by 230,00 hectares in six years. This program has been critical in reversing the decline in plantation investment that was occurring before it was introduced,” Mr Hyett said.
“Continued and long-term investment is essential to build on the program’s success and secure Australia’s future timber and fibre supply.
“We hope the SPEP can be further extended, and continue delivering tangible economic, environmental and community benefits right across Australia.”
