Hot Topic has obtained a copy of a draft memorandum of understanding for a meeting on the ETS that was meant to take place today. It shows that Labour was prepared to do more to help compensate polluters for the costs they would have faced while still paying a price for polluting, thereby still incentivising reductions in emissions.
Now, it seems doubtful that National was ever genuine about wanting to form a sustainable agreement between the two major parties. As Charles Chauvel said:
“Negotiations with Nick Smith were (pause) I’m not sure now we had any discussions in good faith. We’d need to be very careful about whether or not we’d have any discussions with them at any time.”
Phil Goff has called National’s behaviour a “major breach of faith”. The old saying’s still true: never trust a Tory.
Labour’s course is clear. They must state that they will not agree to National and the Maori Party’s cop-out ETS and will strengthen it immediately when next in power.
When making investment decisions, polluters would be wise to realise that the subsidies won’t last forever.