Australia Leaves NZ Behind on Kyoto

Thursday 6 Jun 2002 Ken Shirley Press Releases -- Economy

"The New Zealand Government's blind determination to ratify the Kyoto Protocol while John Howard the Australian Prime Minister confirms that Australia will not ratify can only further worsen the trans Tasman investment disparity that already exists" says ACT's Deputy Leader Ken Shirley.

"John Howard is right in joining the USA and refusing to ratify. He correctly assesses the damage that ratification would do to the Australian economy with leakage of investment, business and jobs to non-ratifying developing nations.

"Australia already enjoys a lower business tax rate than New Zealand and our ratification of Kyoto and the imposition of carbon charges will further encourage New Zealand based business to relocate to Australia or Asia.

"What we will never be able to measure is the number of businesses that decide not to invest in New Zealand because of our Kyoto based policies.

"With both Australia and the USA not ratifying we will be at a serious disadvantage relative to these key trading partners. Furthermore most of our competitors internationally have no obligation whatsoever under the Kyoto Protocol".

"The New Zealand Government has effectively shot itself in the foot with no measurable benefit to the global environment or any reduction in greenhouse gas emissions" concluded Ken Shirley.

For more information visit ACT online at http://www.act.org.nz or contact the ACT Parliamentary Office at act@parliament.govt.nz.

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