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Richard Prebble: The Emissions Trading Scheme is now a slush fund

They have corrupted a crusade to save the planet into sleazy pork barrel politics. Labour and the Greens new climate change policies are just vote buying.


The climate change policies announced this week will not bring New Zealand one day closer to net zero emissions but will fund, to name one policy, changes to school curriculum and NCEA so we “embed an understanding of the collective nature of our wellbeing.” Our schools will be teaching socialist dogma.


It just proves we cannot trust politicians with our money; they will spend it on buying votes.


Labour with the Greens has taken the $3 billion in the Emissions Trading Scheme (ETS) to pay for:

• Creating an accessible, responsive and flexible tertiary education and training system

• Developing an income insurance scheme and improved welfare system income adequacy

• Implementing the Tackling Safe Speeds programme to ensure safer speeds around schools

• Improving digital connectivity for rural communities

• Supporting Tikanga-based programmes to support needs and aspirations of whenua Māori entities

• The Essential Freshwater programme


Act MP Simon Court, who produced this list, points out that not one of these initiatives has anything to do with climate change.


Even those schemes that will reduce emissions will not alter the country’s path to net zero emissions. The path is already in place. The ETS requires all carbon producers to buy credits equal to their emissions. The total amount of emissions is capped and will decline to net zero by 2050.


The policies announced this week will not alter this path. Under the ETS scheme every unit saved from say switching to an electric vehicle frees up a unit for some other activity such as driving an eight-cylinder gas guzzler.


All these new policies will do is enrich some at the expense of others. Many, such as corporations, who will be feeding at the pork barrel, can finance their own route to zero emissions.


While emitters such as oil companies buy the ETS units, the real purchasers are motorists. Ordinary New Zealanders have paid the $3 billion in the ETS fund through their daily purchases.


The ETS money should be returned to households. As Act has advocated the fund could provide one thousand dollars for a household of four.


In addition to returning the ETS fund to its real owners there are policies the government should implement that would improve our climate change policies. They are policies that would make a real difference.


Climate change is a global issue. No one country can save the planet. Labour, National, Greens and the Maori Party have adopted a “climate change in one country” policy. Scientific madness. It pretends only New Zealand ETS units created in this country reduce global emissions.


A carbon credit from New Zealand forests has the same effect on the planet as a credit created from a tropical forest in the Solomon Islands.


It matters. While New Zealand is the world’s most efficient producer of milk we will never be the most efficient at growing forests to absorb carbon. An equivalent tropical forest absorbs four times more carbon.


New Zealand should be assisting poor countries like the Solomon Islands to regrow their tropical forests and earn ETS credits. Instead international investment funds are buying up productive New Zealand farms and turning them into inefficient carbon sinks.


Climate change in one country means the spot price of New Zealand carbon credits is $76.50. The world price is just US$20.81


Having carbon credits more than twice the world price means Labour and the Greens cannot place agriculture, which is a major emitter, under the ETS scheme. It would make our exports uncompetitive.


To efficiently combat climate change Labour and the Greens should allow emitters to buy verified ETS units on the world market. Then the government could include agriculture in the scheme.


Market price signals - not politicians - should decide the best way to allocate the carbon credits.


No marketplace would ever fund a “cash for clunkers” scheme. Everywhere it has been tried the scheme has proved a very expensive rort. When my daughter was training to be a teacher and needed a car to get to her rural school on section, I bought her an old clunker. Under this scheme she could trade that old clunker, get the $10 thousand subsidy, plus help from me, and buy a new car. I could drive the new car and let her drive my old car. She no longer has that car but you can see how easy the scheme is to rort.

Similar criticisms can be made of every one of the announced initiatives.


It is old fashioned centralized planning. Saving the planet is no reason to bring back failed socialist central planning. Combating climate change is so vital it is essential we use the most powerful and successful economic tool, the free market.


Richard Prebble CBE is a former member of the New Zealand Parliament. Initially a member of the Labour Party, he joined the newly formed ACT New Zealand party under Roger Douglas in 1996, becoming its leader from 1996 to 2004.


3,762 views113 comments

113 Comments


Colin Wightman
Colin Wightman
May 26, 2022

Even worse, these same Green Mask lunatics are the same ones sitting there in DAVOS, Switzerland, preparing us for the next planned demic with Ardern's chief advisor Helen Clark part of their eugenicist plans while Ardern herself is gallivanting around the USA catching up with her sponsors Trillionaires Blackrock and her primary boss at the UN [Klaus Shwabb her secondary boss], Secretary General Antonio Guterres. Bill Gates is looking after Helen Clark in Davos where security is so tight that they have their own police force to protect them from those who are awake to their "agenda", the 2030 Agenda which will use the Environmental Sustainability bulldust to not only promote these man altered virus' to serve their needs [fear…

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It seems to me, as a person who voted Greens ( once, when they were a true environmental party ) that we need a PARTY who is prepared in a quiet way to point out the benefit to New Zealanders in keeping to the policies that have made us a unique and prosperous country. People can be persuaded. We do not need to be world leaders, we are a speck on the world landscape. Do what's best for Kiwis not the rest of the world. I personally despise Wind turbines( a blot on the landscape and a future environmental disaster.) Let's clean up our waterways and oceans though. I am now convinced we should opt out of this zero emissio…

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Replying to

The Kermadec Reserve died due to winston's allegience to the fishing industry which entailed a deal with the watermelons.


Yes there is plastic in the ocean but that bears little relation to New Zealand's waterways and zero to the greens as they are too busy waging war on old white men.


Watch and learn


https://youtu.be/rU2jApmgzl8


https://youtu.be/pmryr65iTwM


https://youtu.be/XeDY3I841q0


Now you know where all the crap comes from yet we are pilloried for labels on fruit and multi use supermarket bags.


And, next time you clean your teeth or exfoliate think of this .....


"In addition, microbeads, a type of microplastic, are very tiny pieces of manufactured polyethylene plastic that are added as exfoliants to health and beauty products, such as some…

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Les
Les
May 21, 2022

We don't want to get to net zero emissions to make a difference to climate, we need to stop using fossil fuels before we use them all up. Seems a bit obvious that if we carry on at the current rate of consumption, there won't be any left in a thousand years for future generations.

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Les
Les
May 26, 2022
Replying to

So it's impossible to exhaust the supply of fossil fuels?

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dewhurst987
dewhurst987
May 19, 2022

If I was writing this budget. Climate change would get nothing. Climate change advisors would get the bums' rush ten minutes after election results come out. Race based agencies and departments would get nothing. Gender based agencies and departments would get nothing. All salaries of all public servants, local and national, and elected politicians would be capped at $300,000. All political and social "science" would vanish from universities and schools. Proper science and engineering would be well funded as would be the armed forces and health. Top jobs in all departments would be up for public tender every two years.

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Replying to

ACT

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World-wide man-made co2 production is less than 2% of the world total.

NZs contribution to that figure is less that .00001%..

This was always a scam driven by the left as a way to undermine the financial viability of the west. Politicians are always the most gullible when presented with b/s.

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ron
ron
May 19, 2022
Replying to

When he was consulted by congress on how much impact a potential federal emissions reduction scheme was likely to have on the global climate, Prof John Christy effectively said that removing the whole of the USA as a CO2 emitter would have no noticeable effect.

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