Prime Minister Julia Gillard and Premier Lara Giddings have announced a historic agreement on the future of forestry in Tasmania with a $276 million compensation package.
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In a statement from Ms Gillard, she said the state of the forestry industry in Tasmania was not sustainable.
She said the agreement would secure jobs, ensure a sustainable forestry industry and achieve environmental outcomes by protecting high conservation value forests and remaining old growth forests.
The agreement also provides the protection of a further 430,000 hectares of native forest.
Read the Tasmanian Forest Agreement as a related story link here.
For more read The Examiner tomorrow.