News

  • New multi-million dollar bill for taxpayers under failed ETS

    New figures showing taxpayers forked out nearly $6 million in the last year on free pollution permits to Rio Tinto show the emissions trading scheme (ETS) must go, the Green Party said today. According to the figures, the number of free New Zealand Units (NZUs) allocated to New Zealand Aluminium Smelters Ltd (part of Rio Tinto Alcan) under the ETS jumped from 300,000 in 2012 to over 1.5 million in 2013. At today's spot NZU price of $3.90, that amounts...