The importance of getting this legislation right cannot be overstated. [The development of an ETS] represents the most significant economic reform since the deregulation of the economy in the late 1980s. Getting this bill right is also important for the environment. Poor policy can also have unintended adverse environmental consequences.”
Moreover, “the legislative process has been rushed and inadequate given the bill’s complexity and significance. The public has not had adequate time to examine and submit on the bill, and it is inevitable that serious mistakes will be made that will adversely affect New Zealanders”.
Thus, “this process has not been conducive to getting such an important bill right nor in getting the cross-party support needed to ensure the stability and longevity of New Zealand’s ETS”.
This was Nick Smith last year after Labour had taken a year to pass its ETS, with a number of external fora and consultation periods before the Bill was introduced.
Grant Robertson calls is "breathtaking hypocricy". As I said in the introduction, sometimes even the Labour Party is right.