MIL OSI – Source: Green Party –
Headline: Nat's ETS costs motorists up to $112m a year
“Motorists are paying tens of millions a year under National’s ETS but where is the money going? It’s certainly not being recycled back to households and businesses as it is under the Greens’ Climate Tax Cut.”
The National Government’s Emissions Trading Scheme (ETS) costs motorists $25-$112 million per year, but they get nothing back, Green Party Co-leader Dr Russel Norman said today.
Motorists have been paying between 2.2 cents and half a cent per litre on petrol as a cost of the ETS. Nationally, that amounts to between $25 million and $112 million a year.
“Motorists are paying tens of millions a year under National’s ETS but where is the money going? It’s certainly not being recycled back to households and businesses as it is under the Greens’ Climate Tax Cut,” Dr Norman said.
“This is the difference between National’s ETS and the Greens’ Climate Tax Cut.
“Under National, the money is siphoned off to traders and polluters. Under the Greens, all the revenue is recycled into tax cuts for households and businesses.
“Figures for the first four years of the ETS show carbon emissions have actually risen 20 percent and they show no sign of falling. That’s an indictment of the scheme’s failure.
“Under the Green Party’s Climate Tax Cut plan announced on Sunday, all households will be better off. There will be some increased costs in dairy products, power and petrol prices, but all revenue raised by the Carbon Tax will be returned to households and businesses in the form of tax cuts.
“The ETS has allowed some businesses to actually profit from carbon emissions by gaming the scheme and emissions have actually increased since the scheme was introduced.
“Under the Greens’ scheme, the average household’s costs will increase by around $101 a year, of which about half will be petrol costs, but they will get tax cuts of $420 a year, making the average household a net $319 a year better off.
“That is the beauty of this plan. It is a win-win for households and the climate. We are installing a price signal to encourage businesses and consumers away from carbon emitting activities but making people better off. If consumers and businesses heed the price of signal by reducing their dependence of fossils fuels and the like, they can be even better off.
“Climate change is the most challenging issue of our time. How we respond to it will define the kind of future our children inherit.
“The Green Party’s plan will future-proof our economy and put New Zealand firmly back in the global green race, all while leaving households better off,” Dr Norman said.
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