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


Climate change inaction leaves economic hole

Climate change inaction leaves economic and fiscal hole

Green Media Release

19th December 2006

The Half Year Economic and Fiscal Update released by the Government today shows once again the price we are paying for the lack of urgency in Government climate change policy.

“Firstly, the ditching of the carbon pollution charge, aka the carbon tax, will cost the Government $350million in forgone income per year into the future. That’s $350million per year that can’t be used to futureproof the economy and offset the inevitable increased costs of energy,” says Russel Norman, Green Co-Leader and Economics Spokesperson.

“Secondly, our liability under Kyoto currently stands at over half a billion dollars because our emissions are increasing rapidly above our Kyoto commitments to cut emissions. The cost is likely to be considerably more than half a billion and the Update reveals that Government has still to make a decision as to how to cover this deficit. The taxpayer will pick up this tab unless the cost is passed on to the polluters, which would be a form of welfare that the country can ill afford.

“Thirdly, our very high per capita greenhouse emissions make us vulnerable to shifts in overseas consumer sentiment if European consumers punish us for our inaction. As Treasury puts it, ‘a shift in overseas consumer sentiment against New Zealand products could have a significant impact on our export levels’.

“The extra $1billion tax revenue revealed in this Update should be used to futureproof the economy from future climate change and higher oil prices by investing in energy efficiency, biofuels, carbon neutral electricity generation, tree planting, public housing and public transport.

“If the Government does go down the personal tax cut route, then the fairest way to deliver tax cuts is to introduce a tax free threshold at the bottom of the tax scale. That way everyone benefits to the same amount regardless of income.”


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On Whether We Should Be Betting Quite So Heavily On Astra Zeneca’s Covid Vaccine

According to this week’s Speech from the Throne, maintaining public safety during the pandemic will remain the government’s top priority. Next year will (hopefully) bring the rolling out of a free vaccination against Covid-19 to New Zealander. Currently, there are three possible vaccine contenders but the effectiveness of the vaccine will be only one of the factors determining which vaccine will pre-dominate. On the basis of the cost per dose, and the ease of manufacture, storage and distribution, the Astra Zeneca/Oxford University vaccine will almost certainly be the prime choice for New Zealand, at least initially... More>>


New Zealand Government: Speech From The Throne

It is my privilege to exercise the prerogative of Her Majesty the Queen and open the 53rd Parliament.
In the October election, New Zealanders elected a majority Government for the first time under our Mixed Member Proportional electoral system... More>>

Grant Robertson: Government To Review Housing Settings

New Zealand’s stronger-than-expected economic performance has flowed through to housing demand, so the Government will review housing settings to improve access to the market, the Finance Minister Grant Robertson announced today. “Our focus More>>


Law Commission: Recommends New DNA Laws For Criminal Investigations

Te Aka Matua o te Ture | Law Commission today released a report that recommends a new, comprehensive regime to control how DNA is obtained, used and retained for criminal investigations. The report has revealed significant gaps in the operation ... More>>


New Zealand Government: To Declare A Climate Emergency

The Government will declare a climate emergency next week, Climate Change Minister James Shaw said today. “We are in the midst of a climate crisis that will impact on nearly every aspect of our lives and the type of planet our children will inherit ... More>>


Economy: Crown Accounts Reflect Govt’s Careful Economic Management

The better-than-expected Crown accounts released today show the Government’s careful management of the COVID-19 health crisis was the right approach to support the economy. As expected, the Crown accounts for the year to June 2020 show the operating balance ... More>>


Green Party: Announce Portfolio Reshuffle With Talented And Energised Caucus Team

“The Green Party caucus offers a breadth of talent and energy to the Parliament this term. In ten MPs you have a small business owner, a human rights lawyer, an academic, a climate negotiator, a transport planner, and so much more”, Green Party ... More>>





InfoPages News Channels