UK fiscal changes and new forestry planning

The taxation and grant arrangements for UK forestry were radically changed in April 1988. This paper considers the consequence of these changes for new forestry investment in Scotland by examining five models which describe different site types. The investment appraisals show that after April 1988 forestry will no longer be of interest to investors seeking a tax shelter or wishing to invest borrowed capital. Acceptable real returns to capital will be found only on relatively good quality sites. A major reduction in the rate of new planting is indicated and a shift away from poorer planting land. The rate and location of new planting will depend critically on farmland prices and the extent to which better-quality land is released for planting under the normal consultation procedures

New Zealand freshwater management and agricultural impacts

In New Zealand, it is increasingly recognised, including by government, that water resource allocation and water quality are issues of national importance. Agriculture is frequently portrayed by public media as a major user of water and a major contributor to worsening water quality. We outline the water management systems in New Zealand, and the use of water by agriculture. Official reports on agriculture's impact on New Zealand water availability and quality are summarised. We report how the New Zealand public perceive water, its management, and the roles of agriculture in water issues. Data from a nationwide mail survey were analysed to determine how New Zealanders assess the state of New Zealand lakes, rivers and streams, and aquifers, the performance of three agencies responsible for management of freshwater resources, and willingness to fund stream enhancement. We provide brief explanations for the failures of water resource management in New Zealand and report on options, including community-based responses that might address some of the mounting public, scientific, and government concerns about trends in water quantity and quality. A willingness to pay proposition, concerning riparian areas, included in the nationwide survey provides some evidence that the public are willing to pay for improved waterway management. Relevant non-market valuation studies also indicate that the public places considerable value on preservation values of water in New Zealand. Copyright Australian Agricultural and Resource Economics Society Inc. and Blackwell Publishing Ltd 2006.