Government's plan to reduce emissions will hurt economy - NZIER
1 May 2008
The Government’s proposed Emissions Trading Scheme, intended to ensure New Zealand plays its part in helping reduce global emissions of greenhouse gases, is likely to hurt the economy more than necessary, says a report issued today by the New Zealand Institute of Economic Research (Inc).
Households, provincial economies, agriculture, energy producers, transport, and most other industries will all feel the pain as the proposed scheme is phased in at a cost to the country by 2025 estimated at more than $4.5 billion – more than four times as great as the cost of the Government directly funding emission reductions.
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