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Michael Cullen shifty on tax shift

John Key MP National Party Finance Spokesman

05 May 2005

Michael Cullen shifty on tax shift

National Party Finance spokesman John Key says Labour's carbon tax could end up costing New Zealand consumers far more than the $210 per year indicated by Labour yesterday.

"That costing was based on the presumption that carbon credits would be valued at $15 per tonne of CO2 emissions. The reality is far worse.

"According to Labour's own Q and A on the matter, they have given themselves the flexibility to increase this cost by as much as two thirds, to $25 per tonne.

"The international price for carbon emissions that will be used as a benchmark by the New Zealand carbon charge is already trading at 17 Euros, well above the $15 (NZ) mark quoted by Labour yesterday.

"In addition, Labour has failed to assess the true costs that consumers will face as businesses pass on their own increased transport and electricity bills.

"Labour's been telling Kiwi energy consumers only half the story.

"National would repeal the unnecessary carbon tax and provide much needed relief to Kiwi energy consumers. Commonsense suggests we should reserve judgment on this uncertain science until the second commitment period that begins in 2013," says Mr Key.


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