ETS in six weeks means budget of smoke and mirrors
Submitted by climaterealists on Sun, 23/05/2010 - 21:39
Kiwi Party Press Release
20 May 2010
Kiwi Party Leader Larry Baldock welcomed the confirmation in the Budget today that John Key’s Government will reduce personal tax rates and increase superannuation payments and benefits to offset the cost of the increase in GST to 15% from 1 October, 2010.
“However before these measures take effect, in just six weeks' time on 1 July, the Prime Minister’s Emissions’ Trading Scheme (ETS) takes effect and we will all begin paying more for fuel and energy,” he said.
Some Government owned generators will then begin to make windfall profits for the Treasury’s coffers from an artificial hike in the cost of electricity.
“This really makes the budget a matter of smoke and mirrors. Wacking us all with unnecessary carbon taxes and then increasing tax to reduce tax makes no sense whatsoever. With only 0.2% of the world’s CO2 emissions, what are we doing trying to lead the world in GHG reductions?
“The Kiwi Party, however, welcomes other measures in the Budget such as closing loopholes that have allowed the wealthy to avoid tax through trusts, and the changes aimed at directing New Zealanders' investments away from residential property and into real export producing industries and savings,” said Mr Baldock.
It would all look a lot better if common sense were to prevail in the next 6 weeks and the ETS was scrapped.
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