Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Use cost to help decide on ETS

Media release
21 August 2008

Use cost to help decide on ETS

Business NZ has responded to the Greens’ request for the public to help them decide whether to support Labour’s proposed emissions trading scheme.

Business NZ Chief Executive Phil O’Reilly says a key factor is what it will cost.

“When the Government first unveiled its scheme, it was based on carbon being priced at $15 a tonne – they said this would increase petrol prices by 4 cents a litre.

“But since then the price of carbon has hit $50* a tonne and is still rising. If the Government’s proposed scheme were in place now, petrol would have increased by 13 cents a litre and electricity would have increased by about 20%.

“The proposed scheme does not have safeguards such as planned for the Australian scheme. NZ businesses and NZ consumers both stand to face significantly higher fuel costs than their Australian counterparts, and NZ businesses will not have the protections planned for Australia.”

Mr O’Reilly said there would not be much environmental gain for all the economic pain.

“Our message to the Green Party is that we need an emissions trading scheme – but not this one.

“The Emissions Trading Bill needs a lot of rework, and the public needs to be able to have a say on it –another round of consultation is greatly needed. It also needs to be better aligned with Australia’s proposed scheme.”

*Current price in EU emissions trading scheme


© Scoop Media

Business Headlines | Sci-Tech Headlines


Paymark: Lockdown Equals Slowdown For Some

The three days of lockdown for Auckland earlier this month made a clear impression on our retail spending figures. While only Auckland moved into Level 3 lockdown, the impact was felt across the country, albeit at different levels. Looking at the ... More>>

Infrastructure Commission: Te Waihanga Releases Report On Water Infrastructure

The New Zealand Infrastructure Commission, Te Waihanga’s latest discussion document highlights the importance of current reforms in the water sector. Its State of Play discussion document about water infrastructure is one of a series looking at the ... More>>

Sci-Tech: Perseverance Rover Lands On Mars – Expert Reaction

NASA has landed a car-sized rover on the red planet to search for signs of past life. The vehicle has more instruments than the four rovers preceding it, and it’s also carrying gear that could help pave the way for human exploration of Mars. The ... More>>


ASB: Quarterly Economic Forecast Predicts OCR Hike As Early As August 2022

Predictions of interest rate rises have been brought forward 12 months in ASB’s latest Quarterly Economic Forecast. Chief Economist Nick Tuffley now expects the RBNZ to begin raising the OCR from its current level of 0.25% as early as August ... More>>

ACT: Matariki Almost A Half Billion Dollar Tax On Business

“Official advice to the Government says an extra public holiday at Matariki could cost almost $450 million,” ACT Leader David Seymour can reveal. “This is a perfect example of the Prime Minister doing what’s popular versus what’s responsible. ... More>>

Genesis: Assessing 6,000 GWh Of Renewable Generation Options For Development By 2025

Genesis is assessing 6,000 GWh of renewable generation options for development after starting a closed RFP process with 11 partners. Those invited to participate offer a range of technologies as Genesis continues to execute its Future-gen strategy to ... More>>

OECD: Unemployment Rate Stable At 6.9% In December 2020, 1.7 Percentage Points Higher Than In February 2020

The OECD area unemployment rate was stable at 6.9% in December 2020, remaining 1.7 percentage points above the level observed in February 2020, before the COVID-19 pandemic hit the labour market. [1] In December, the unemployment rate was also stable ... More>>

Stats NZ: Unemployment Drops To 4.9 Percent As Employment Picks Up

The seasonally adjusted unemployment rate dropped to 4.9 percent in the December 2020 quarter, from 5.3 percent in the September 2020 quarter, Stats NZ said today. Last quarter’s unemployment rate of 5.3 percent followed the largest increase observed ... More>>