Dowie SarahSARAH DOWIE (National—Invercargill): Oh thank you Mr Speaker. I too rise in support of this Climate Change Response (Emissions Trading Reform) Amendment Bill after an exceptional contribution from my colleague the Hon Scott Simpson and prima facie one that I would agree with from Dr Duncan Webb but I note that while he talks about integrity and predictability of a system the devil is in the detail and that's where the rubber hits the road with this following on from the Climate Change Response (Zero Carbon) Amendment Bill. This is where the rubber hits the road and we really need to understand that detail in this 200-page bill that is about to go to select committee. We will support that and we will attend and undertake due diligence and be very interested to hear from those key stakeholders such as those industries that emit carbon as part of their manufacturing process.As Mr Scott Simpson and Mr Duncan Webb said this bill is New Zealand's main tool for reducing greenhouse gas emissions. It's acknowledged that it's not currently used to its full potential but as the Hon Scott Simpson said this was work that was commenced under the National-led Government it is now being progressed and we need to send it to select committee to look at that further. But one thing that piqued my interest was of course allowing for a cost containment reserve scheme and that the bill will remove the current $25 fixed-price option and replace it with this reserve which will operate with the New Zealand Emissions Trading Scheme options. So there will be a limited reserve supply of New Zealand units and the Government will release these only when the price reaches a particular point termed the trigger level. The Hon James Shaw said that this will allow the mechanism to be adjusted when some polluters are paying an unacceptably low price and when some polluters are paying an unacceptably high price. Again the devil is in the detail.As a Southlander Mr Shaw should note that I would probably get a little bit excited about that given that Southland houses New Zealand Aluminium Smelters and now also Ballance Agri-Nutrients. So while the smelter is undertaking an audit of its affairs at the moment and is one of the smelters in the world that produces the cleanest aluminium powered of course by hydro and the only smelter in the world to be paying a carbon price we're getting a little bit excited at the fact that prices could go up again notwithstanding that they're struggling with regards to electricity prices and now potentially a higher carbon price. They've openly admitted that if the price goes from $25 to $50 then that will mean definitely out of business. Equally then you've got Ballance Agri-Nutrients that is housed down at Awarua employing around about 700 people—again a significant contribution to the Southland economy. If that was to be penalised with high carbon emissions prices again that could ruin the Southland economy and potentially put us and our livelihoods out of business well and truly. So we're very interested in making sure that climate change is taken seriously.But again we need to be looking at the economic impacts of this. We need to be making sure that we hear from these key stakeholders and that the framework is in fact fair and transparent that it does have integrity and that the pace at which we move is not so far out that we become green at the expense of people's livelihood and wellbeing. We do support this bill at its first reading. But again as I say I am looking forward to the select committee to undertake due diligence and to see how it goes.