Pattrick Smellie: BusinessDesk managing editor defends aspects of NZ Steel carbon deal

Best of Business · May 23, 2023 · 5m

The Government's partnership with NZ Steel is poised to boost the nation's fight against climate change.

NZ Steel will receive up to $140 million to help replace half the coal used at its Glenbrook site with electricity.

BusinessDesk editor Pattrick Smellie says this deal is corporate welfare, but it'll reduce more emissions and cost less than the Clean Car scheme.

"We're spending somewhere between $300 million and $400 million to help people buy Teslas and Nissan Leafs for a much smaller gain in emissions reductions at a much higher cost, $140 million spent to get rid of 1 percent is a huge…