Parliament

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

 

Dunne: ETS to wipe out tax cuts and then some

Media statement
For immediate release
Thursday, 5 June 2008

Dunne: ETS to wipe out tax cuts and then some

UnitedFuture leader Peter Dunne has warned that the Government’s tax cuts will be all but wiped out by the skyrocketing price of carbon if Parliament passes the Emissions Trading Bill in its current form.

“Latest indications are that the cost of carbon will continue to rise over the short to medium term, significantly increasing the price of electricity, fuel and food,” said Mr Dunne.

The price of carbon on the European market has risen over NZ$50 a tonne for primary credits and NZ$35 a tonne for secondary credits, which are the units most New Zealand businesses will have to buy under the proposed ETS.

“If the cost of secondary carbon credits hits $60 a tonne, that's four times what the Government predicted when the ETS legislation was tabled. At $15 a tonne Climate Change Minister David Parker said household costs would raise about $6 a week.”

Carbon analysts are predicting that the price of primary credits will reach NZ$75 a tonne this year with the secondary price tending to follow not far behind.

“Average household costs of around $25 a week will more than wipe out the savings from tax cuts for most low and middle income earners.

“It is imperative that the Government and the select committee takes this into account and introduces a means of relieving the burden on New Zealand households which are already feeling the pinch of higher power, food and fuel prices.

“Whether relief comes in the form of a compensation package to New Zealand families, a cap on the price of carbon, or a more partial emission trading scheme it is imperative that the Government does not leave us totally at the mercy of the international carbon trading market,” said Me Dunne.

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Back Again: Government Approves TPP11 Mandate

The Government has approved a negotiating mandate for Trans-Pacific Partnership 11 (TPP11), which will ensure New Zealand businesses remain competitive in overseas markets.

Trade Minister Todd McClay says New Zealand will be pushing for the minimal number of changes possible to the original TPP agreement, something that the remaining TPP11 countries have agreed on. More>>

ALSO:

.

 
 

Gordon Campbell: On Why Labour Isn’t Responsible For Barnaby Joyce

As a desperate Turnbull government tries to treat the Barnaby Joyce affair as a Pauline Hanson fever dream – blame it on the foreigners! We’re the victims of the dastardly New Zealand Labour Party! – our own government has chosen to further that narrative, and make itself an accomplice. More>>

ALSO:

Rail: Greens Back Tauranga – Hamilton – Auckland Service

The Green Party today announced that it will trial a passenger rail service between Auckland, Hamilton and Tauranga starting in 2019, when it is in government. More>>

ALSO:

Housing: Voluntary Rental Warrant Of Fitness For Wellington

Wellington City Council is partnering with the University of Otago, Wellington, to launch a voluntary Rental Warrant of Fitness for minimum housing standards in Wellington, Mayor Justin Lester has announced. More>>

ALSO:

Treaty: Agreement In Principle Signed With Moriori

“The Crown acknowledges Moriori was left virtually landless from 1870, hindering its cultural, social and economic development. The Crown also acknowledges its contribution to the myths that the people of Moriori were racially inferior and became extinct." More>>

ALSO:

Susan Devoy: Call For Inquiry Into State Abuse Reaches UN

Race Relations Commissioner Dame Susan Devoy is in Geneva and has asked a United Nations committee to urge the New Zealand government to initiate an inquiry into the physical and sexual abuse of children and disabled people held in state institutions. More>>

ALSO:

(Not National): Cross-Party Agreement On Pike River Re-Entry

The commitment was signed this afternoon by the leaders of Labour, United Future, The Maori Party, and the Green Party and, together with the earlier commitment by New Zealand First, means that there is now a Parliamentary majority behind the families’ fight for truth and justice. More>>

ALSO:

Earlier:

 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages

Opening the Election