Kiwi Families To Freeze While Forest Owners Make Millions

Dr Nick Smith seems more than happy to let Kiwi families, already struggling to pay their power bills, simply freeze as the ETS increases electricity prices - while millions of dollars go to forestry owners, ACT New Zealand Climate Change Spokesman John Boscawen said today.

"In question time today, I asked him what he would say to pensioners Kevin and Gabrielle Holden, who told ‘3 News’ last night that they were down to one bar on their heater and who were now facing increased costs due to the ETS, so that foreign forest owners like Fujitsu Xerox Company, Oji Paper Company and ITOCHU Corporation could receive hundreds of millions of dollars.  Dr Smith could only point to the $80 million that Marlborough Forest owners would receive under the ETS," Mr Boscawen said.
 
"Dr Smith seems to think that the Holdens should take solace in the fact that forestry owners in Marlborough are going to benefit by $80 million.  It’s hard to comprehend that Dr Smith could be so out of touch with the struggles of ordinary New Zealanders and particularly the disadvantaged and those on low and fixed incomes. 

"The ETS will enable electricity generators like Meridian, which will receive a higher wholesale price for their electricity under the ETS to make windfall profits.  The Government will then be able to use this money to pay approximately $400 million to owners of pre-1990 forests as compensation for losses we can’t even be certain about," Mr Boscawen said.

To view the full transcript of today's question visit:

http://www.act.org.nz/news/kiwi-families-to-freeze-while-forest-owners-make-millions