Has cutting 'corporate welfare' left a hole in government climate plans?

Posted: 20 May 2024

The government is under pressure to show how it will meet its climate targets after scrapping a scheme it decried as "corporate welfare".

National campaigned on ending the Government Decarbonising Industry Fund (GIDI) and said its main tool for cutting planet-heating gases would be carbon pricing, rather than subsidising companies.

Labour said if it let the carbon price rise high enough to get these companies to switch on their own, it would add costs to households by increasing the carbon cost component of petrol and electricity bills.

Read more on RNZ.