It appears at first glance to be a far more thoughtful scheme and proposal than the NZ Labour Government's hashed and dashed proposal.
- Petrol tax will be adjusted to compensate
- Direct assistance to the low paid and beneficiaries - indexed as well
- Recognises the potential for 'carbon leakage' if energy intensive industry is forced to close and re-open in a carbon happy location. Those industries that qualify will get free emission permits.
- Agriculture is excluded.
- Only the 1,000 biggest emitters are included - those that produce in excess of 25,000 tonnes of CO2 per annum.
Of course missing from the scheme is the green house gas that comprises 95% of the green house effect - water vapour. The scheme puts all the blame on the gases that make up 5% of the green house effect.
Hat Tip: Too Right