67974 (2024). Chlöe Swarbrick to the Minister of Finance

67974 (2024). Chlöe Swarbrick to the Minister of Finance: What, to the nearest $m, is the estimated quantum of the fiscal impact, if any, on net core Crown debt, relative to the Budget Economic and Fiscal Update 2024 forecasts, if the December Emissions Trading Scheme auction also fails?

Hon Nicola Willis: If the December auction does not sell any units, the fiscal impacts (relative to BEFU 2024 forecasts) will be: • A $649 million increase in net core Crown debt, in the 2024/25 fiscal year. • A $649 million decrease in ETS auction cash proceeds for the 2024/25 fiscal year. • The ETS liability, representing the stock of outstanding ETS units held by market participants, would be lower by $649 million.