Transparency needed on Zero Carbon Act costs


“The Government must be open and transparent with New Zealanders about the additional costs they will face under its proposed Zero Carbon Act, says ACT Leader David Seymour.


“It has been far from up front about the consequences of its offshore oil and gas exploration ban.


“The Zero Carbon Act discussion document released today outlined a number of scenarios, some of which see households faced with massive costs.


NZIER modelled economic growth across a number of scenarios and targets.


“In a net zero emissions scenario in which people shift to low-emission energy and transport, average GDP per year between 2017 and 2050 is $37 billion – or 9.5 per cent – lower.


“In another net zero emissions scenario modelled by NZIER, per household gross national disposable income falls by $10,000 or 4.3 per cent.


“In order to have a robust debate about this issue, the Government must be up front about the potential costs for Kiwi businesses and households.


“People paying the bill deserve to be told what is in store for them”, says Mr Seymour.