Hon Bill English
Minister of Finance

16 September 2009
Media Statement

Government’s ETS strikes a balance to protect jobs

Government changes to the Emissions Trading Scheme strike the right balance between protecting New Zealand jobs, halving the cost for families and households, and doing our fair share on climate change, Finance Minister Bill English says.

“The changes we have agreed with the Maori Party are about making the ETS workable and affordable, so that the New Zealand economy and Kiwi jobs are not put at risk – as they would have been under Labour’s scheme.

“We have halved the cost of the ETS for families and households for the next three years by reducing increases in power prices and fuel costs.

“At the same time, the changes to industry are designed to protect jobs by ensuring that our businesses are encouraged to stay here rather than move to other countries.

“The agreement also provides businesses with certainty about how the ETS will affect their investment decisions.”

Mr English says no amount of hand-wringing and petty political posturing by Labour will change the fact that its scheme would have cost Kiwi jobs and damaged the economy.

“Labour speaks with a forked tongue. It talks vaguely about the need to support jobs, but its policies – including its ETS and its unaffordable borrow-and-hope spending promises – do exactly the opposite. By contrast, this Government is about supporting jobs and fostering economic growth.

“With the support of the Maori Party, our changes are about New Zealand doing its fair share on climate change, but at the same time not being out in front of the rest of the world and paying a huge economic price.

“They will ensure we don’t destroy people’s jobs and cripple the economy by jeopardising key industries such as agriculture and fishing,” Mr English says.

ENDS

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