24 May 2010
As part the emission trading scheme (ETS) the Government would over five years pay $1.6 billion to foresters to plant trees. It would get $900 million of this from taxpayers and $600 m from other ETS revenue gathering, prime minister John Key told TVNZ's Breakfast programme today.
"The question is for a household, are they prepared to pay $3 a week for the insurance premium of our environment and I think the answer to that is yes," Mr Key said.
New Zealand had to bring in an ETS, despite Australian delays in implementing a similar scheme, because without it our goods "very likely" would be rejected internationally.
Of the 38 countries that signed the Kyoto protocol, 29 have an ETS, he said.
Australia had indicated it was going to bring in an ETS soon and had introduced legislation to regulate sustainable energy which would increase power prices by 7.1 percent -- more than New Zealand.
"When people say to you, 'gosh New Zealand's going to lead the world and they'll be the only one with an ETS', it's not true.
"If you really believe, and I do, that all these other countries are eventually going to have some response ... we may as well start very gently."
Source: NZPA