Sweeping the ETS under the carpet
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4:01 pm, May 25th, 2010 - 11 comments
Categories: Environment, ETS -
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According to Newsroom [currently offline]:
No money has been budgeted to pay for New Zealand’s contribution to a $44 billion component of the Copenhagen Accord on climate change or to withstand losses from the emissions trading scheme beyond Kyoto’s lifetime. The gaps in last week’s Budget have raised fresh questions about the Key government’s commitment to curbing greenhouse gases despite Prime Minister John Key’s continued insistence that the ETS rollout will not be further deferred. Mr Key says he does not know why the sums are missing from the Budget but speculated that Treasury could not register a liability or asset beyond Kyoto’s first commitment period without a fresh international commitment…
Last year when the revised ETS was going through Parliament, Treasury calculated that the long-run costs of the changes, particularly granting big industrial emitters and agriculture more free carbon credits for longer, could cost $110 billion or 13 to 17 percent of GDP by 2050 an estimate Mr Key dismissed at the time as nonsense. However in the Budget papers, the Treasury says that beyond 2012 when Kyoto expires, it has modelled the ETS net revenues to be neutral ‘as New Zealand has no international commitments beyond this period’. It adds that net revenue is assumed to be recycled back to the public through fiscally equivalent, unspecified tax reductions or spending increases.
I agree with Labour’s Charles Chauvel who asks:
‘It begs the question why would we have gone through all of that and put the markets and New Zealand consumers through the convulsions we have if we’re just going to revert to a revenue recycling scheme.’
Or is it because National’s budget was already so much in the red they didn’t want it to blow out even more?
11 comments on “Sweeping the ETS under the carpet ”
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Today's passing of the Government's Residential Tenancies Amendment Bill–which allows landlords to end tenancies with no reason–ignores the voice of the people and leaves renters in limbo ahead of the festive season. ...1 week ago
- Release: National Party urged to support modern slavery legislation
Labour is urging the Prime Minister to walk the talk and support legislation combating modern slavery. ...1 week ago
- Release: Labour has lost confidence in the Speaker
The Speaker of the New Zealand Parliament made an unprecedented decision on the government amendment to the Fast Track Approvals Bill last night. ...1 week ago
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Today’s announcement from the Government on its plan for new ferries throws more uncertainty on the future of the country’s rail network. ...2 weeks ago
- Release: Nicola Willis’ smaller ferries will cost more
After wasting a year, Nicola Willis has delivered a worse deal for the Cook Strait ferries that will end up being more expensive and take longer to arrive. ...2 weeks ago
- Bill to sanction unlawful occupation of Palestine
Green Party co-leader Chlöe Swarbrick has today launched a Member’s Bill to sanction Israel for its unlawful presence in the Occupied Palestinian Territory, as the All Out For Gaza rally reaches Parliament. ...2 weeks ago
- Release: Labour fully supports greyhound racing ban
The Government has done the right thing in moving to ban greyhound racing. ...2 weeks ago
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After years of advocacy, the Green Party is very happy to hear the Government has listened to our collective voices and announced the closure of the greyhound racing industry, by 1 August 2026. ...2 weeks ago
- Rangatahi voices must be centred in Government’s Relationship and Sexuality Education refresh
In response to a new report from ERO, the Government has acknowledged the urgent need for consistency across the curriculum for Relationship and Sexuality Education (RSE) in schools. ...2 weeks ago
- Govt introduces archaic anti-worker legislation
The Green Party is appalled at the Government introducing legislation that will make it easier to penalise workers fighting for better pay and conditions. ...2 weeks ago
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Thank you for the invitation to speak with you tonight on behalf of the political party I belong to - which is New Zealand First. As we have heard before this evening the Kinleith Mill is proposing to reduce operations by focusing on pulp and discontinuing “lossmaking paper production”. They say that they are currently consulting on the plan to permanently shut ...2 weeks ago - Swarbrick calls on Auckland Mayor to end delay of revival of St James Theatre
Auckland Central MP, Chlöe Swarbrick, has written to Mayor Wayne Brown requesting he stop the unnecessary delays on St James Theatre’s restoration. ...2 weeks ago
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- Internationally-trained doctors jump at chance to boost health workforce
Health Minister Dr Shane Reti says Health New Zealand will move swiftly to support dozens of internationally-trained doctors already in New Zealand on their journey to employment here, after a tripling of sought-after examination places. “The Medical Council has delivered great news for hardworking overseas doctors who want to contribute ...6 hours ago - PM appoints business leader to APEC Business Advisory Council
Prime Minister Christopher Luxon has appointed Sarah Ottrey to the APEC Business Advisory Council (ABAC). “At my first APEC Summit in Lima, I experienced firsthand the role that ABAC plays in guaranteeing political leaders hear the voice of business,” Mr Luxon says. “New Zealand’s ABAC representatives are very well respected and ...2 days ago
- New intelligence oversight appointments
Prime Minister Christopher Luxon has announced four appointments to New Zealand’s intelligence oversight functions. The Honourable Robert Dobson KC has been appointed Chief Commissioner of Intelligence Warrants, and the Honourable Brendan Brown KC has been appointed as a Commissioner of Intelligence Warrants. The appointments of Hon Robert Dobson and Hon ...2 days ago
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Improvements in the average time it takes to process survey and title applications means housing developments can progress more quickly, Minister for Land Information Chris Penk says. “The government is resolutely focused on improving the building and construction pipeline,” Mr Penk says. “Applications to issue titles and subdivide land are ...2 days ago
- Actions to speed up air travel delivering results
The Government’s measures to reduce airport wait times, and better transparency around flight disruptions is delivering encouraging early results for passengers ahead of the busy summer period, Transport Minister Simeon Brown says. “Improving the efficiency of air travel is a priority for the Government to give passengers a smoother, more reliable ...2 days ago
- Ending contracted emergency housing in Rotorua
The Government today announced the intended closure of the Apollo Hotel as Contracted Emergency Housing (CEH) in Rotorua, Associate Housing Minister Tama Potaka says. This follows a 30 per cent reduction in the number of households in CEH in Rotorua since National came into Government. “Our focus is on ending CEH in the Whakarewarewa area starting ...2 days ago
- Vocational education and training decisions support return to regions
The Government will reshape vocational education and training to return decision making to regions and enable greater industry input into work-based learning Tertiary Education and Skills Minister, Penny Simmonds says. “The redesigned system will better meet the needs of learners, industry, and the economy. It includes re-establishing regional polytechnics that ...2 days ago
- Reducing the environmental impact of synthetic refrigerants
The Government is taking action to better manage synthetic refrigerants and reduce emissions caused by greenhouse gases found in heating and cooling products, Environment Minister Penny Simmonds says. “Regulations will be drafted to support a product stewardship scheme for synthetic refrigerants, Ms. Simmonds says. “Synthetic refrigerants are found in a ...2 days ago
- Ngāruawāhia section of Waikato Expressway back to 4 lanes for Christmas
People travelling on State Highway 1 north of Hamilton will be relieved that remedial works and safety improvements on the Ngāruawāhia section of the Waikato Expressway were finished today, with all lanes now open to traffic, Transport Minister Simeon Brown says.“I would like to acknowledge the patience of road users ...2 days ago
- Appointments to the ENZ board
Tertiary Education and Skills Minister, Penny Simmonds, has announced a new appointment to the board of Education New Zealand (ENZ). Dr Erik Lithander has been appointed as a new member of the ENZ board for a three-year term until 30 January 2028. “I would like to welcome Dr Erik Lithander to the ...3 days ago
- Government to celebrate Waitangi Day around NZ
The Government will have senior representatives at Waitangi Day events around the country, including at the Waitangi Treaty Grounds, but next year Prime Minister Christopher Luxon has chosen to take part in celebrations elsewhere. “It has always been my intention to celebrate Waitangi Day around the country with different ...3 days ago
- More gangs added to Gangs Act list
Two more criminal gangs will be subject to the raft of laws passed by the Coalition Government that give Police more powers to disrupt gang activity, and the intimidation they impose in our communities, Police Minister Mark Mitchell says. Following an Order passed by Cabinet, from 3 February 2025 the ...3 days ago
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- GDP data highlights importance of growth
The latest economic figures highlight the importance of the steps the Government has taken to restore respect for taxpayers’ money and drive economic growth, Finance Minister Nicola Willis says. Data released today by Stats NZ shows Gross Domestic Product fell 1 per cent in the September quarter. “Treasury and most ...3 days ago
- Strengthening Free Speech in Universities
Tertiary Education and Skills Minister Penny Simmonds and Associate Minister of Education David Seymour today announced legislation changes to strengthen freedom of speech obligations on universities. “Freedom of speech is fundamental to the concept of academic freedom and there is concern that universities seem to be taking a more risk-averse ...3 days ago
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- Minister reopens Mangamuka Gorge
State Highway 1 through the Mangamuka Gorge has officially reopened today, providing a critical link for Northlanders and offering much-needed relief ahead of the busy summer period, Transport Minister Simeon Brown says.“The Mangamuka Gorge is a vital route for Northland, carrying around 1,300 vehicles per day and connecting the Far ...3 days ago
- Funding confirmed for second Ashburton Bridge
The Government has welcomed decisions by the NZ Transport Agency (NZTA) and Ashburton District Council confirming funding to boost resilience in the Canterbury region, with construction on a second Ashburton Bridge expected to begin in 2026, Transport Minister Simeon Brown says. “Delivering a second Ashburton Bridge to improve resilience and ...3 days ago
- Government boosts support for avian influenza response
The Government is backing the response into high pathogenic avian influenza (HPAI) in Otago, Biosecurity Minister Andrew Hoggard says. “Cabinet has approved new funding of $20 million to enable MPI to meet unbudgeted ongoing expenses associated with the H7N6 response including rigorous scientific testing of samples at the enhanced PC3 ...3 days ago
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Today the House agreed to Brendan Horsley being appointed Inspector-General of Defence, Justice Minister Paul Goldsmith says. “Mr Horsley’s experience will be invaluable in overseeing the establishment of the new office and its support networks. “He is currently Inspector-General of Intelligence and Security, having held that role since June 2020. ...4 days ago
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- Government seeks partnerships to plant trees on Crown-owned-land
The Government today released a request for information (RFI) to seeking interest in partnerships to plant trees on Crown-owned land with low farming and conservation value (excluding National Parks) Forestry Minister Todd McClay announced. “Planting trees on Crown-owned land will drive economic growth by creating more forestry jobs in our regions, providing more wood ...4 days ago
- Wide ranging legislation to make justice system more efficient
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A total of 41 appointments and reappointments have been made to the 12 community trusts around New Zealand that serve their regions, Associate Finance Minister Shane Jones says. “These trusts, and the communities they serve from the Far North to the deep south, will benefit from the rich experience, knowledge, ...4 days ago
- Torture redress for survivors of the Lake Alice Unit
The Government has confirmed how it will provide redress to survivors who were tortured at the Lake Alice Psychiatric Hospital Child and Adolescent Unit (the Lake Alice Unit). “The Royal Commission of Inquiry into Abuse in Care found that many of the 362 children who went through the Lake Alice Unit between 1972 and ...4 days ago
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It has been a busy, productive year in the House as the coalition Government works hard to get New Zealand back on track, Leader of the House Chris Bishop says. “This Government promised to rebuild the economy, restore law and order and reduce the cost of living. Our record this ...4 days ago
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“Accelerated silicosis is an emerging occupational disease caused by unsafe work such as engineered stone benchtops. I am running a standalone consultation on engineered stone to understand what the industry is currently doing to manage the risks, and whether further regulatory intervention is needed,” says Workplace Relations and Safety Minister ...4 days ago
- Greater reporting on Treaty settlement commitments
Mehemea he pai mō te tangata, mahia – if it’s good for the people, get on with it. Enhanced reporting on the public sector’s delivery of Treaty settlement commitments will help improve outcomes for Māori and all New Zealanders, Māori Crown Relations Minister Tama Potaka says. Compiled together for the ...4 days ago
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Mr Roger Holmes Miller and Ms Tarita Hutchinson have been appointed to the Charities Registration Board, Community and Voluntary Sector Minister Louise Upston says. “I would like to welcome the new members joining the Charities Registration Board. “The appointment of Ms Hutchinson and Mr Miller will strengthen the Board’s capacity ...4 days ago
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- Faster access to support through Innovation Fund
Mental Health Minister Matt Doocey is proud to announce the first three recipients of the Government’s $10 million Mental Health and Addiction Community Sector Innovation Fund which will enable more Kiwis faster access to mental health and addiction support. “This fund is part of the Government’s commitment to investing in ...4 days ago
- New Zealand to assist Vanuatu on earthquake response
New Zealand is providing Vanuatu assistance following yesterday's devastating earthquake, Foreign Minister Winston Peters says. "Vanuatu is a member of our Pacific family and we are supporting it in this time of acute need," Mr Peters says. "Our thoughts are with the people of Vanuatu, and we will be ...4 days ago
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- Review recommends ECE regulation shakeup
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- Offshore Renewable Energy Bill passes first reading
The Government‘s Offshore Renewable Energy Bill to create a new regulatory regime that will enable firms to construct offshore wind generation has passed its first reading in Parliament, Energy Minister Simeon Brown says.“New Zealand currently does not have a regulatory regime for offshore renewable energy as the previous government failed ...5 days ago
- Local Government (Water Services) Bill passes first reading
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So they have a line in the budget representing an “adjustment for macroeconomic effects” but do not have a line for a liability that is almost inevitable.
These guys are making it up as they go along.
Yes, very scary point, Micky. I’ve said a few times that I think National’s budget was ok, but if and only if we met the treasury predictions. Given that those predictions didn’t include the likely cost of carbon in the future, we can pretty much say the predictions are dead in the water, and we didn’t even get out of budget month yet!
And the decision to give the wealthy a tax cut based on these shonky predictions is unforgivable.
David Cunliffe is right. This looks like an attempt to justify the windback of public services and the sell off of the public’s assets.
Sweeping the ETS under the carpet—- Best news I have had all month
Key’s government hands in my pocket! This is another tax from National.
Is Key benefitting personally from carbon trading? I wonder.
If you dont like carbon trading, but are concerned about climate change – come to climate camp this year
http://www.climatecamp.org.nz
facebook: Camp for Climate Action Aotearoa
The ministry that wants to mine national parks for coal, also wants the taxpayer to pay for carbon credits.. how surprising:
‘Who runs the scheme?: The Economic Development Ministry.’
http://www.stuff.co.nz/dominion-post/politics/3737593/ETS-price-fears-stir-up-grassroots-Nats
I am beginning to think “who cares”? The language of economics and politics as expressed by our political and financial classes seems to be totally at odds with reality. The climate will speak its own language, and a lot louder than that spoken by these people. They may not care to hear it, but I can assure you they (and all of us) will.
Its a bit like having eaten at the restaurant and ordering another course knowing that there may not be credit on your card…the bill will be settled one way or another, and it may not be pleasant.