New Zealand Proposes Slower Phase in of Emissions Trading Plan

New Zealand is proposing a slower phase-in of its emissions trading plan if the government is re- elected on Nov. 26, Prime Minister John Key said today.

Policies need to balance the cost of households and businesses with the need to reduce emissions, so the phase in over 2013 to 2015 will be slower than previously announced, Key said in an e-mailed statement. Beyond 2015, New Zealand will look to align its plan with that adopted by Australia, he said.

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