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Peters Calls Paris Exit; Treasury Cuts $5B; Rates Cap 2029

6/12/2026

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Summary

Story summary

NZ First leader Winston Peters used his Fieldays appearance to call for New Zealand to leave the Paris climate agreement, citing a Treasury estimate that offshore mitigation would cost $5 billion.
Treasury cut its offshore mitigation cost estimate to $5 billion, down from earlier projections of up to $23 billion.
The government will introduce a rates-cap law limiting council rate hikes to 4 percent, with full implementation by 2029.

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Story summary

NZ First leader Winston Peters used his Fieldays appearance to call for New Zealand to leave the Paris climate agreement, citing a Treasury estimate that offshore mitigation would cost $5 billion.
Treasury cut its offshore mitigation cost estimate to $5 billion, down from earlier projections of up to $23 billion.
The government will introduce a rates-cap law limiting council rate hikes to 4 percent, with full implementation by 2029.