Media Release

27 August 2008

NZ First Supports Amended ETS Bill

New Zealand First has decided to support the amended Emissions Trading Scheme (ETS) after several months of consideration and negotiations with the Government.

Rt Hon Winston Peters said today that New Zealand First was faced with having to decide whether to support a scheme over which it would have some influence, or to leave the country in a situation of uncertainty.

“We have secured a package that will ensure that all households will receive a one-off payment to mitigate the impact of the ETS,” said Mr Peters.

“As well, all those on low incomes, including New Zealand superannuation, will receive a front-loaded CPI adjustment to ensure that they keep ahead of the projected cost of the ETS to their households.

”We have ensured that within the one billion dollar energy efficiency fund available to all households, a dedicated portion will go to SuperGold Card holders which will reduce their costs and create warmer, healthier homes.

“New Zealand First strongly supported the establishment of an innovation fund, particularly for those who are trade exposed and would have not received any other form of free allocation.

“The most critical aspect secured by New Zealand First was the introduction of a new requirement for the agriculture and industry allocation plans to be further scrutinised by a select committee and Parliament to ensure that as circumstances change, the ETS has the ability to meet these.

“We brought about considerable changes to forestry and agriculture in the ETS and the Government has accepted these changes,” said Mr Peters.

ENDS

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