Parliament

Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 

Hodgson must resign over billion-dollar cock-up

Hon. Dr Nick Smith

16 June 2005

Hodgson must resign over billion-dollar cock-up

National's Environment spokesman, Nick Smith, says Pete Hodgson must accept responsibility and resign over the billion-dollar error made in calculating New Zealand's carbon credit balance.

"The scale of this error cannot be explained by changes in forest plantings or increased emissions. The reality is that Labour has made a gross miscalculation that will cost New Zealand dearly in growth in jobs and incomes.

"When the Kyoto Protocol was ratified in 2002, Labour said we would have surplus credits of 54 million tonnes. They have now admitted a deficit of 36 million tonnes. This 90 million tonne difference amounts to $1.3 billion at $15 a tonne, the price of Labour's carbon tax, or $3 billion at $34 a tonne, the current price for carbon on European markets.

"This shocking revelation exposes the folly of Labour's decision to rush in and ratify Kyoto ahead of Australia and the United States.

"Pete Hodgson dismissed National's opposition to early ratification, saying 'would they set fire to a $200 million cheque?' There is no cheque, Mr Hodgson, just a billion-dollar bill.

"Serious questions also have to be asked as to why the Minister has hidden this information for two months when it was reported to the United Nations on 15 April.

"And releasing the Niwa report on the effects of climate change at the same time is a clumsy effort to hide this monumental cock-up.

"This report also highlights just how hard it is to reduce emissions. There is no evidence that higher petrol prices by way of a carbon tax reduce consumption. It reinforces just how difficult and expensive compliance with Kyoto will be.

"National will be reviewing its Kyoto policy in light of this shock announcement. We need to weigh up whether or not it is in New Zealand's best interests to be the only country in the southern hemisphere with Kyoto obligations," says Dr Smith.

ENDS

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Zimbabwe: New Democracy, Or A False Dawn?

Gordon Campbell: Robert Mugabe = Hosni Mubarak. The current jubilation on the streets of Harare at the fall of Zimbabwe’s dictator Robert Mugabe is genuine, and one hates to be negative about the country’s future. Yet the situation is eerily similar to the scenes in Cairo in early 2011, when a popular uprising swept Hosni Mubarak from power in Egypt. More>>

 

Gordon Campbell: On The New Pike River Agency (And The Air Strike Wing)

Much of the sympathy the public still feels for the families of the Pike River miners has been sustained by the sense that the previous government – let alone the mining company and the processes of receivership and litigation – has never dealt honestly, or fairly, with them. More>>

ALSO:

Not Going Swimmingly: Contractor Cut, New Dates For Christchurch Sports Centre

“As an incoming Minister, I have been conducting a thorough review of progress on the Anchor projects and to learn of a $75 million budget blowout on this project was very disappointing..." More>>

ALSO:

Tertiary: Allowances, Loan Living Costs To Get Boost

“From 1 January, student allowance base rates and the maximum amount students can borrow for living costs will rise by a net $50 a week,” says Education Minister Chris Hipkins... further adjusted from 1 April 2018 in line with any increase in the CPI. More>>

ALSO:

Foreign Affairs: Patrick Gower Interviews Jacinda Ardern

Prime Minister Jacinda Ardern says discussions have already begun on how to bring climate change refugees into New Zealand under a Pacific seasonal employment plan... More>>

ALSO:

Gordon Campbell: On The Centre Right’s Love Of ‘Nanny State’

You’d almost think it was 2005 again. That was a time when the rugged individualists of the centre-right were being beset by government regulations on the nature of light-bulbs, the size of shower heads, the junk food available at school tuck shops and other such essentials... More>>

Speaking Of Transport: Public Engagement On Wellington Scenarios

“Our work on possible solutions for Wellington’s transport future is ongoing, but has progressed to the stage where we’re ready to share our ideas with the public and seek their feedback to help guide our next steps...” More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages

Opening the Election