Treasury warns about climate risks and carbon auction failure

Finance minister Nicola Willis, pictured with prime minister Christopher Luxon, has been warned about climate funding risks. (Image: NZME)

Ian Llewellyn

Wed, 20 Dec 2023

The Treasury has warned the new government of numerous fiscal risks around climate change policy, including the possibility that carbon auctions will continue to fail.The National-led government has decided to use revenue from the emissions trading scheme (ETS) to help fund its wider spending and tax cut programme. This changes the previous government’s policy that the money goes into emissions reduction projects, and puts more pressure on the ETS to raise revenue, with tight budgets and deficits forecasts for years to come.The Treas...

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