Brian Connell MP National Party Forestry Spokesman

15 June 2005

Hodgson's blunder may cost Kiwis $600 million

"A monumental miscalculation by Pete Hodgson may leave New Zealand with a $600 million liability before the ink on the Kyoto Protocol is even dry, " says National Party Forestry spokesman Brian Connell.

"Any day now Mr Hodgson will be forced to make an announcement that confirms New Zealand's carbon position is negative in the first commitment period, not positive as this prevaricating Minister has hitherto maintained, even as recently as last week when questioned in Parliament.

"The stupidity of the Government's ratification of Kyoto ahead of due diligence is coming home to bite us all.

"Instead of having a $200 million cheque that Labour was only too willing to take the credit for, Kiwis might be writing one for $600 million.

"Mr Hodgson and his ideologically driven Labour Government may have saddled all New Zealanders with a huge liability which will mean higher electricity prices, higher petrol prices and even the cost of a beer will go up.

"It will get worse. Most informed commentators are forecasting a liability of $9 billion to $15 billion in the fourth commitment period - that's more money than the bill to fix Auckland's traffic congestion," says Mr Connell.

ENDS

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