Seymour DavidDAVID SEYMOUR (Leader—ACT): Thank you Madam Speaker. Today is one of those important days in the development of this country's economic history. It's the day that under the zero carbon legislation that ACT alone opposed in this House the Climate Change Commission has brought forth its first formal advice to the Government advice that tells the Government that it must reduce carbon emissions nationwide according to a series of sector-specific plans.It is the case in this world that our major trading partners and our friends and allies are decarbonising and we need to follow them. It would be dangerous for a small trading nation to become significantly out of sync with its trading partners because for diplomatic reasons trade policy reasons and simple consumer preference it would be foolish for a small trading nation to become an outlier on something as significant as climate policy. But if it's the role of the New Zealand Government and this Parliament to ensure that New Zealand follows and stays close to our friends around the world in terms of decarbonising there could not be a worse way of achieving it than what the Climate Change Commission has proposed today. Why? Let me count the ways—there are three.Number one: it is so micro-managing. It forecasts into the future that there's going to be a 2.6 percent reduction in GDP by 2050. How many economists in the last century have managed to forecast 29 years out to the nearest 0.1 percent? And all the assumptions in the report have the same over-precision. They assume that they know too much more about the future than what anyone can truly know. They say we must stop importing a certain type of car in a certain year reduce the number of cows by 13 percent and stop connecting gas to new restaurants. The truth is it's no more easy to predict the technological future in 2050 today than it was to predict what 2021 would look like in 1992. That's what they're trying to do.The second issue is that it's not actually going to help because this country now has two contradictory and conflicting climate policies. One is the emissions trading scheme which now thanks to legislation last year has a cap setting the total amount of carbon emissions that New Zealanders are allowed to make. Number two is what was announced today which tries to micro-manage which technologies and which sectors and which processes people can use. That micro-management means that if somebody buys a different car because the Government told them to or plants a different tree because the Government told them to they merely free up carbon credits which under the cap allow someone else to use carbon emissions for something else. So there's actually no improvement from these unreliable forecasts into what the future should look like. It's the same reason that centrally planned economies failed throughout the 20th century. It's as though we've learnt nothing.And the third big problem is it's totally disconnected from the rest of the world. The zero carbon Act says that we need a 24 to 47 percent reduction in biogenic methane by 2050 that we need to get to net zero long-lived gas emissions by 2050. Well if the rest of the world doesn't do that and we do New Zealand will be destroying its own economy to have no influence on the climate. On the other hand if the rest of the world does more actually we'll be an outlier. Our goal should be to keep in touch with our friends around the world not to set own goals regardless of what the rest of the economies in the world to.Finally we're not able to buy foreign carbon credits so if our competitors around the world if our cement factories are competing against companies in Vietnam that buy cheap carbon credits from South America where they're replanting the Amazon then New Zealand ends up being disadvantaged. We should be able to buy foreign credits.Today is a big day but not for the right reasons. New Zealand does need a plan to decarbonise in sync with our partners but to do it with this level of micro-management with this level of isolation from the rest of the world and with two contradictory climate policies is total insanity and the ACT Party proudly stands alone opposing it as we're the only party that always has.