Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Treaty settlement top-ups for Tainui, Ngai Tahu loom in 2013

Treaty settlement top-ups for Tainui, Ngai Tahu poised for 2013 financial year

By Paul McBeth

Sept. 12 (BusinessDesk) – The Waikato-Tainui and Ngai Tahu iwi are poised to claim top-ups on their 1990s Treaty settlements because of a relativity clause that gets triggered when the so-called fiscal envelope is exceeded.

Treaty Negotiations Minister Chris Finlayson progress with claims means there’s some $1.79 billion completed or in the pipeline, including the $170 million settlement with the 35,000-strong Ngai Tuhoe tribe announced this week.

The central North Island-based Tainui and South Island Ngai Tahu settled for $170 million apiece but were granted top-up clauses that would ensure Tainui received 17 percent of all settlements and Ngai Tahu got 16.1 percent.

That clause would come into play if the Crown paid out more than $1 billion in 1994 dollar terms under the fiscal envelope. That works out at roughly $1.54 billion today, using the Reserve Bank's inflation calculator, though it doesn't account for the timing of various settlements.

"The pace (of settlements) has picked up for sure," Associate Professor Peter Adds, the head of Maori Studies at Victoria University, told BusinessDesk. Still, "they had aspirations for a 2014 date (for completing all historic grievances) but I don't think there's any chance of meeting that."

The figures for claims settled or in the pipeline are based on settlement terms published on the Office of Treaty Settlement's website.

That's made up by 30 completed settlements of some $1.09 billion, 12 signed deeds of settlement worth about $201.2 million, four deeds waiting for ratification by iwi of $143.9 million, and 16 agreements in principle of about $362.8 million.

Adds, who is also a negotiator for Te Ati Awa ki Taranaki, said the Crown will probably have to pay out on the relativity clauses, which it offered to the heavyweight iwi to get them over the line and hasn't put on the table to anyone else.

"They are definitely trying to keep under a billion dollars" through cultural redress, such as land management rights, which doesn’t count to the limit, he said.

The Crown will give its annual update to Tainui and Ngai Tahu next month on where they stand on the relativity clause, based on the past financial year, meaning the clause is likely be triggered in the 2013 year.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Sky City : Auckland Convention Centre Cost Jumps By A Fifth

SkyCity Entertainment Group, the casino and hotel operator, is in talks with the government on how to fund the increased cost of as much as $130 million to build an international convention centre in downtown Auckland, with further gambling concessions ruled out. The Auckland-based company has increased its estimate to build the centre to between $470 million and $530 million as the construction boom across the country drives up building costs and design changes add to the bill.
More>>

ALSO:

RMTU: Mediation Between Lyttelton Port And Union Fails

The Rail and Maritime Union (RMTU) has opted to continue its overtime ban indefinitely after mediation with the Lyttelton Port of Christchurch (LPC) failed to progress collective bargaining. More>>

Earlier:

Science Policy: Callaghan, NSC Funding Knocked In Submissions

Callaghan Innovation, which was last year allocated a budget of $566 million over four years to dish out research and development grants, and the National Science Challenges attracted criticism in submissions on the government’s draft national statement of science investment, with science funding largely seen as too fragmented. More>>

ALSO:

Scoop Business: Spark, Voda And Telstra To Lay New Trans-Tasman Cable

Spark New Zealand and Vodafone, New Zealand’s two dominant telecommunications providers, in partnership with Australian provider Telstra, will spend US$70 million building a trans-Tasman submarine cable to bolster broadband traffic between the neighbouring countries and the rest of the world. More>>

ALSO:

More:

Statistics: Current Account Deficit Widens

New Zealand's annual current account deficit was $6.1 billion (2.6 percent of GDP) for the year ended September 2014. This compares with a deficit of $5.8 billion (2.5 percent of GDP) for the year ended June 2014. More>>

ALSO:

Still In The Red: NZ Govt Shunts Out Surplus To 2016

The New Zealand government has pushed out its targeted return to surplus for a year as falling dairy prices and a low inflation environment has kept a lid on its rising tax take, but is still dangling a possible tax cut in 2017, the next election year and promising to try and achieve the surplus pledge on which it campaigned for election in September. More>>

ALSO:

Job Insecurity: Time For Jobs That Count In The Meat Industry

“Meat Workers face it all”, says Graham Cooke, Meat Workers Union National Secretary. “Seasonal work, dangerous jobs, casual and zero hours contracts, and increasing pressure on workers to join non-union individual agreements. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news