National to subsidize big polluters by 55% till 2050

Taxpayers 'to subsidise big polluters'
Big polluters would get unlimited taxpayer subsidies through changes to the emissions trading scheme (ETS), says the country's top environmental watchdog. Parliamentary Commissioner for the Environment Jan Wright said National's amendment bill weakened the scheme, especially through a generous giveaway of carbon credits. "We do lock in dirty investments by some industries," she said. In a scathing submission to Parliament's finance and expenditure select committee, which is considering the bill, Wright said the allocation of credits after 2012 to industrial processes, industrial heat generation and petroleum refining was "extremely generous". She recommended capping free credits, otherwise "costs can increase without limit". Under the changes, Wright said, the Government would still be paying a 55 per cent subsidy to high-emission industries by 2050.

Unbelievable isn’t it, the Government amendment means that we will be subsidizing big polluters to the tune of 55% till 2050, that is atrocious and shows the kind of greenwash National have always bee suspected of. Their concern is for their big business donors, not the environmental well being of the planet.

National and ACT (who changed their environment policy to climate skeptics after skeptic Alan Gibbs donated $100 000 to them) are in denial over global warming.