The cost of New Zealand’s emissions-trading scheme is a warning to Australia. Patrick J. Byrne reports.With the Garnaut report on an Australian emissions trading scheme (ETS) due in July, estimates from New Zealand’s ETS draft legislation show it could cost households NZ$19,000 annually by 2025.New Zealand contributes just 0.2 per cent of global emissions. As half of this comes from agriculture, the rural sector is concerned at the costs the legislation will impose on the farmers and NZ exports….
