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Paper reveals why Govt went ahead with ETS overhaul

Monday 24 Aug 20 10:00am


FIFTEEN DAYS into the first covid-19 lockdown, officials told the Government the new $20 price floor in the Emissions Trading Scheme was critical to protecting taxpayers from what the pandemic could do to carbon prices.

New Zealand went into level four lockdown on March 26, prompting a $6 fall in the price of spot NZUs, amid fears of a recession and uncertainty over whether the Government would go ahead with plans to reform the Emissions Trading Scheme.

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