VicForests has racked up a loss of $22 million since it was formed – that means it costs us $1.50 for every cubic metre of wood it has logged.
VicForests righteously claims a net profit of $11.6 million over eight years. But it has also received gifts of $24.75 million – a net cost to the taxpayer of over $13 million.
Read the article from The Age
The community group, Healesville Environment Watch commissioned an economic assessment of VicForests economic performance, since its beginnings in 2004-5.
Read the assessment report (PDF) here