Green Party co-leader Chlöe Swarbrick.
The Green Party is claiming the government's "failed climate policies" have created a $1.4 billion fiscal hole, but the Finance Minister rejects that, saying there is "no fiscal hole" and "actual outturns usually differ and forecasts get revised".
Green Party co-leader Chlöe Swarbrick says Emissions Trading Scheme auctions are failing because the government has "consistently undermined confidence and certainty in its climate policies".
The party is pointing to Treasury's financial statements showing eight of the last 10 carbon auctions have failed to clear since the government took office, and the $1.4b is the sum of the volume effect across the years ended 30 June 2024, 2025 and 2026.
Swarbrick had asked Nicola Willis in a written parliamentary question what the revenue impact of the five latest failed ETS auctions were, to which Willis responded saying the sale of units didn't have an impact on revenue, but acknowledged an impact on debt.
