New Zealand scraps clean, green policies to boost economy

5/8/2024 12:04

        New Zealand's green credentials are at risk as the government rolls back environmental reforms in a bid to boost a flailing economy and fulfil promises made to its voters.
        
        Since taking power last year, Prime Minister Christopher Luxon's centre-right coalition announced it will reverse a ban on oil and gas exploration, push the pricing of agricultural emissions back five year and encourage more mining.
        
        This is part of a government shift in priorities towards increasing exports to support an economy that grew just 0.3% in the year to March 2024, its lowest growth for the same period since the pandemic hit in 2020, and that has a current account deficit at 6.8% of GDP.
        
        Exports make up nearly a quarter of New Zealand's economy.
        
        "The economic situation for me, is arguably the worst of the set of circumstances that I can remember in my adult life," Resources Minister Shane Jones said.