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The Minister for Climate Change needs to come clean on where the revenue generated from the Emissions Trading Scheme is going, National’s Climate Change spokesperson Scott Simpson says.

“Funds collected by the Government from the emissions trading scheme have ballooned up to $420 million this year, compared to just half a million dollars the previous year.

“Prior to the election James Shaw was vocal about how this revenue should be used to implement tax cuts, stating that ‘every single Kiwi over 18 will also get a $250 dividend bonus at the end of the year based on the carbon tax revenue.’

“When questioned in Parliament today his tune changed considerably, stating that the money would be held as an asset on the Government books.

“This doesn’t wash. The Government is planning to introduce an emissions trading auction scheme, meaning they will continue to use the ETS to raise hundreds of millions each year. They need to explain where this money will go and how it will be spent.

“New Zealanders are paying about five cents on every litre of petrol to the ETS, but they’re not seeing any of it back, let alone where it’s going.

“As usual this Government is failing to deliver on its promises, and this money now looks like it will get sucked up into the Government’s excessive spending on things like fees free, Kiwibuild and Shane Jones’ slush fund.”

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