Federal Election 2022: Coalition’s $220m plan to grow forestry industry
Almost $220m will be invested in Australia’s forestry industry in a bid to shore up timber supplies and more than 70,000 jobs under a Coalition government.
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Almost $220m will be invested in Australia’s forestry industry in a bid to shore up domestic timber supplies and more than 70,000 jobs under a Coalition government.
Prime Minister Scott Morrison will on Thursday unveil the package, which will bank on new technologies growing the sector.
“Global demand for wood products is set to quadruple by 2050 so this investment in the jobs and future of the forestry industry is critical,” the Prime Minister said.
The funding includes $113m to accelerate the adoption of new wood processing technologies and $100m for a National Institute for Forest Products Innovation with up to five regional centres of excellence.
A further $6.6m will extend funding for the 11 regional forestry hubs to help local industry and business connect with cutting edge research.
Mr Morrison said the pressures on the building industry following material shortages and the uncertainty around global supply chains had reinforced the need for local wood products.
He said a Coalition government would “never support shutdowns of native forestry” and would work with states to create permanent timber production areas.
“We can turbocharge this $23bn industry with the right skills development and the right cutting edge research that our plan delivers,” he said
Assistant Minister for Forestry Jonno Duniam said the government’s plan would increase Australia’s domestic wood supply, secure 73,000 industry jobs and create more along the supply chain.
“We want to grow the trees here, process them here and add value to them right here in Australia,” the Tasmanian Senator said.
“These investments mean helping our businesses and workers develop new timber products for buildings, turning wood waste into useful materials, and replacing plastics with wood-based bioplastics.”
He said the National Institute for Forest Products Innovation would be centred at the heart of Australia’s forestry industry in Launceston, northern Tasmania.
“Our forestry workers and industry are key to successful regional communities around the country and our plan helps deliver a stronger economy for their future,” Senator Duniam said, adding it would also be good for the environment.
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Originally published as Federal Election 2022: Coalition’s $220m plan to grow forestry industry
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