October 24, 2012
Iwi concerns makes ETS bill one vote race
The Māori Party has withdrawn its support for the Government's Emissions Trading Scheme Amendment Bill in light of iwi concerns that proposed changes destroy the value of forestry settlements and existing Māori forest assets.
National wants to weaken the 2009 Climate Change Act that makes industry sectors pay for their carbon emissions.
Agriculture is being given an indefinite reprieve and transitional arrangements for other sectors and has been pushed out.
The Māori Party says a flood of cheap carbon credits from overseas has distorted the local market, driving the New Zealand unit price below $3 compared with it being more than $20 when forestry claims were negotiated.
The Government can still pass the bill with the support of United Future MP Peter Dunne.
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