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Environmentalists will deliver $61m bill to VicForests on Friday 8 November 2013


On Friday 8 November at 11 am Healesville Environment Watch activists will deliver a bill for $61m to VicForests on behalf of the people of Victoria. Please join these environmentalists if you can outside 473 Burke Street - VicForests offices.

For the sixth year running, the state's native forest logging arm, VicForests, has failed to return a dividend to the people of Victoria.

This is the sum the state business enterprise is supposed to pay for the privilege of being allowed to log publicly-owned forests.

A review of VicForests' performance prepared for Treasury in 2010 suggested that the company should be able to produce 15% - 20% Return on Equity. On this basis the outstanding amount after 9 years of operation is more than $61 million (at 15% RoE).

An invoice for the outstanding debt of $61 million will be delivered to VicForests' Offices in Melbourne and Healesville at 11:00 am on Friday morning, 8 November.

Please attend if you can!

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Comments

Well, I guess this invoce will be a language that VicForestsw will understand.