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Labour delivers billion dollar Kyoto blowout

Hon Dr Nick Smith MP
National Party Climate Change Spokesman

20 December 2007

Labour delivers billion dollar Kyoto blowout

The nearly $1billion bill for Kyoto revealed by Treasury exposes just how badly the Government’s climate change policies have failed, says National’s Climate Change spokesman Nick Smith.

This is in response to the latest estimate of $956 million - up $252 million on the June 30 estimate this year.

“This nearly $1 billion bill compares with Labour’s promise of a half billion-dollar cheque when the Government ratified the Kyoto protocol in 2002.

“New Zealand’s predicament is that net emissions are up 25% on the Kyoto target, whereas Australia’s net emissions are only up 4%.

“That Australia is on target to meet Kyoto, but New Zealand is facing a near billion-dollar bill, just adds to the problems of trans-Tasman competitiveness.

“The problem is that Labour’s policies over the past five years have caused a massive rise in deforestation and a trebling in emissions from electricity generation.

“New Zealand needs to start planting trees, encourage solar water heating, put more fuel efficient vehicles on the road, and fix the Resource Management Act to allow the development of renewable energy projects.

“If these issues are not addressed the Kyoto deficit will continue to blow out.”

ENDS

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