This newsletter outlines key policy updates, economic trends and industry initiatives relevant to the forestry sector.
A major highlight is the National Skills Agreement between federal and Victorian governments, committing up to $3.15 billion to strengthen vocational education and address workforce shortages in the sector.
Economic updates show modest growth, with GDP rising 0.4% for the June quarter. Household spending remains weak due to rising interest rates and cost of living pressures, while inflation sits above 5%. Housing approvals continue to decline, and softwood sales and imports are trending downward.
Industry updates include ForestTECH 2023, new load restraint testing insights and the launch of Plantation Protect, an insurance product designed to support small-scale growers facing limited coverage options.
The newsletter also highlights sustainability initiatives, including work by the SE NSW Forestry Hub to promote balanced forest management and public understanding of forestry practices.
Funding opportunities include the $73.8 million Support Plantation Establishment Program, aimed at expanding Australia’s plantation estate.
Community and partnership updates include Hyne Timber’s support of the Ngarigo Culture Reserve and scholarship awards recognising industry talent.
Overall, the edition reflects a sector managing economic pressure while investing in skills, sustainability and future growth.