ETS settings leave taxpayers with $60m cement bill

The Government’s decision to spend $60 million propping up Golden Bay Cement exposes how the Emissions Trading Scheme’s current settings are punishing local industry.

Taxpayers’ Union spokesperson Tory Relf said:

“An ETS is the best tool to reduce emissions, but it should not sacrifice industry at the altar of net zero, only for taxpayers to fund the rescue.”

“Our competitors are cutting emissions while keeping strategic industries competitive. New Zealand should do the same, rather than exporting emissions, jobs and investment.”

“It is a false economy to make businesses unviable through carbon charges, then bail out those with the best lobbying teams in Wellington. The Government must review its industrial allocation settings across all trade-exposed sectors.”