NZ Loses As Aussie Confirms No ETS Before 2012

The announcement by new Australian Prime Minister Julia Gillard that Australia will not have an ETS before 2012, shows what a huge mistake the National Government has made by pushing ahead with our scheme in New Zealand, ACT New Zealand Climate Change Spokesman John Boscawen said today.

"We are now guaranteed to be at a competitive disadvantage with our closest major trading partner for at least another two years, if not more. How many jobs are we going to lose overseas and what damage will be done to our economy, before Australia, the US, Japan and China get on board – if ever?” Mr Boscawen said.

"National has been vocal about its efforts to compete against Australia for business – announcing in the Budget 2010 its intention to drop New Zealand’s company tax rate to a lower rate than Australia’s. Yet, any benefit this may have had for our economy will be lost due to the costs imposed on New Zealand based businesses by the ETS.

"National has been far too hasty in implementing this complicated and far-reaching ETS legislation. Australia is well aware of the risks and as we can see from the announcement today, is taking a far more level headed approach to addressing climate change - one that does not put its economy in jeopardy.

"Unfortunately it is New Zealanders who will ultimately pay the price for National’s foolish mistake,” Mr Boscawen said.

ENDS

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