Assessing the financial implications of alternative investment options in weed control

摘要

A benefit-cost analysis (BCA) tool for assessing the attractiveness of government investment in long-term weed control within a catchment region or State has been developed. To demonstrate its use, the tool is applied in a partial assessment of the financial impact of Chilean needlegrass (Nassella neesiana (Trin. & Rupr.) Barkworth) to the beef and sheep/wool industries in the Corangamite region in Victoria over a 30-year period. The results of the partial analysis of benefits and costs of government-coordinated weed control strategies to these industries and the broader community are presented. When applied in conjunction with economic surplus analysis, this tool is potentially useful in providing economic information on which to base allocation ofstrategic public investments in the management of pest plants at regional and State levels. The tool takes into account the likely year-by-year financial costs of weeds and their control at individual farms, industry and the broader community, thus alerting the analyst to a range of potential flinders and partners and helping to avoid public funds 'crowding out' private investments.