Ending native forest logging in Victoria seven years ahead of schedule would save the state an estimated $205 million over the next decade, according to independent analysis.
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Victoria's Parliamentary Budget Office has crunched the numbers on the Greens' new election policy to end native forest logging next year, instead of the 2030 deadline set by the Andrews government.
Under the plan, unveiled on Tuesday ahead of the November poll, logging workers and contractors would choose between Labor's $120m transition package or redeployment into a new emergency and disaster response team.
The Greens argue the workers are well-suited to make the switch, given their existing skills with heavy machinery and working in remote areas.
According to the PBO's costing, seen by AAP, the Greens policy would save Victoria $205m from 2022/23 to 2032/33.
A $101.3m estimated fall in revenue from abolishing VicForests on January 1 next year would be offset by $306.7m in projected savings from ending government grants to the state-owned business.
However, in the shorter term, the state budget would be expected to take a $14.7m hit from 2022/23 to 2025/26.
Victorian Greens deputy leader Ellen Sandell said the plan would save the state money in the long run while protecting its precious forests and wildlife.
"What a lot of people don't realise is taxpayers pay to log our forests currently, which is really absurd," she told AAP.
"If we stop logging our forests, not only are we saving hundreds of millions of dollars; we're also saving our forests and we can use some of that money to protect timber workers."
The Greens want to spend $21m of the savings to establish the disaster response team, better equipping the state for future floods, fires and storms.
Other policy elements include repealing laws that criminalise forest protests and lock Victoria into supplying forests to private companies until 2030, more processing of plantation timber within the state, and new protected areas in remaining forests.
Western Australia is banning native forest logging from 2024 and Ms Sandall said it was showing Victoria the way forward.
"We think that we can put pressure on Labor to accelerate and get out of native forest logging," she said.
"But ultimately I think it'll only happen if we see more Greens elected at the state election, or if Labor feels like they're under threat."
Australian Associated Press
