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


Govt’s surplus at risk from ETS subsidies

12 September 2012

Govt’s surplus at risk from ETS subsidies

The National Government’s aim of returning to surplus by 2015 will be put at risk by on-going and indefinite subsidies of major polluters if planned changes to the Emissions Trading Scheme go ahead, Green Party Co-leader Russel Norman said today.

The Parliamentary Commissioner for the Environment has estimated the additional costs to the taxpayer for indefinite subsidies under the emissions Trading Scheme (ETS) could range from $330 million to $1 billion over the next four years.

“The National Government’s putting one of its flagship economic policies – the return to surplus – at risk by proposing to subsidise the cost of major carbon polluters indefinitely,” said Dr Norman.

“The additional subsidies will cost the Government up to $1 billion over the next four years pushing the surplus out by a year.

“The effective removal of the price incentive from the ETS will also result in New Zealand failing to reach the Government’s target of a 50 percent reduction in emissions by 2050.

“This is crony capitalism at its worst and runs contrary to all sensible economic management of the climate change challenge that we are currently facing.”

The Green Party was also critical of the Government’s lack of effort to transition our economy to a clean, green economy – one that protected it’s ‘100% Pure’ branding while developing smart solutions to living in a carbon constrained future.

“By removing all incentives for carbon intensive industries to innovate, the National Government is protecting a large part of our economy with no future,” Dr Norman said.

“This is gross short-termism; it’s not a smart way to run an economy.

“The Green Party would restore an effective price signal in the ETS transforming current subsidies for polluters into industry-related support for R&D into low-carbon alternatives.

“We can have a healthy environment while securing a more sustainable and resilient economy at the same time.”

Link to the Parliamentary Commissioner for the Environment’s ETS submission:

The Green Party's plan for a smart green economy:


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On Our Unreal Optimism About The Economic Impact Of Coronavirus

At this week’s Chinese New Year celebrations, PM Jacinda Ardern was resolutely upbeat that business with China would soon bounce back to normal – better than ever, even - once the coronavirus epidemic has been brought under control. To Ardern, the adversity has only accentuated just how close we are to Beijing Nothing wrong with being upbeat, if it can calm the nerves and turn business sentiment into a self-fulfilling prophecy. The problems begin when the optimism detaches itself from reality. What has been very odd so far about the coronavirus episode is that global share markets – normally spooked by mere sneezes or sniffles in the world’s major economies - have continued to be fairly positive, even as the epidemic has unfolded... More>>

First Published on Werewolf here


Vaping: Government To Regulate Products

No sales to under-18-year-olds No advertising and sponsorship of vaping products and e-cigarettes No vaping or smokeless tobacco in smokefree areas Regulates vaping product safety comprehensively, - including devices, flavours and ingredients Ensure ... More>>


Gordon Campbell: On The Political Donations Scandals
Even paranoids have real enemies. While there has been something delusionary about the way New Zealand First has been living in denial about its donations scandal, one can sympathise with its indignation about Paula Bennett and Simon Bridges being among its chief accusers. More>>


UN Expert: NZ Housing Crisis Requires Bold Human Rights Response

This is a press statement from UN Special Rapporteur on the right to housing at the end of her 10-day visit to New Zealand. The Government of New Zealand has recognized that the country is facing a housing crisis, said Leilani Farha, UN Special Rapporteur ... More>>


2020 And Beyond: National’s Economic Plan

National Leader Simon Bridges has today outlined National’s economic plan heading into election 2020. “National understands the economy and how it impacts on New Zealanders day to day lives... More>>






InfoPages News Channels