The Government\u2019s carbon credit trading scheme could have shut New Zealand\u2019s only cement manufacturing plant, but Fletcher Building announced today it got a $60 million bailout to keep it running – the $60m is not a loan.<\/p>\n
NZ Initiative Chief Economist Dr Eric Crampton told Heather du Plessis-Allan that the bailout doesn’t address the root cause of the issue.\u00a0<\/p>\n
“It’s a mess that’s trying to solve what’s actually a real problem in how the government’s industrial allocations in the emissions trading scheme work –\u00a0the design of those is not good, and they are particularly not good when it comes to cement manufacturing,” he said.<\/p>\n
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