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28/01/2013
Study Finds Harvesting Rights Sale 'Not Justified'
The sale of harvesting rights of Ireland's forests could not be justified, as any economic benefit would be outweighed by the liabilities the State would incur, a new study has found.
The State would remain liable for costs of €1.3bn following a sale of the harvesting rights, a report, commissioned by the Coillte branch of IMPACT, has said.
The report found that in order for the State to cover those costs Coillte would need to sell the rights at almost double its average selling price, around €78 per m3.
The study also found that there was nothing to suggest this would be possible.
Speaking on RTÉ's News at One, the report's author, Peter Bacon, said that while the Government would get a lump sum now, it would forgo future profits, while also being left with residual costs.
(H)
The State would remain liable for costs of €1.3bn following a sale of the harvesting rights, a report, commissioned by the Coillte branch of IMPACT, has said.
The report found that in order for the State to cover those costs Coillte would need to sell the rights at almost double its average selling price, around €78 per m3.
The study also found that there was nothing to suggest this would be possible.
Speaking on RTÉ's News at One, the report's author, Peter Bacon, said that while the Government would get a lump sum now, it would forgo future profits, while also being left with residual costs.
(H)
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Ireland WeatherToday:A sunny but frosty start for many. However cloud increases by midday with a few showers reaching the north coast, these mostly light but spreading inland this afternoon. Chilly. Maximum temperature 8 °C.Tonight:A rather cloudy evening with scattered showers. Becoming drier through the night with some good clear spells developing and a patchy frost away from coasts. Minimum temperature 0 °C.
