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Will National's revised emissions trading scheme have an effect on the economy?

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Photo / Janna Dixon
Photo / Janna Dixon

Taxpayers will be stuck with 84 per cent of the bill for meeting New Zealand's obligation under the Kyoto Protocol, while farmers and large industrial emitters get hefty subsidies, according to a report out today.

The report on the Government's planned changes to the emissions trading scheme by the Sustainability Council's executive director Simon Terry and economist Geoff Bertram says farmers will be subsidised to the tune of $1.1 billion by the end of 2012, while large emitters get nearly $500 million.

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