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

 

Wine: 20% Of Marlborough Storage Tanks Damaged By Quake

An estimated 20 percent of wine storage tanks in the Marlborough region, the country’s largest wine producing area, have been damaged by the impact of the recent Kaikoura earthquake. More>>

ALSO:

ACC: Levy Recommendations For 2017 – 2019 Period

• For car owners, a 13% reduction in the average Motor Vehicle levy • For businesses, a 10% reduction in the average Work levy, and changes to workplace safety incentive products • For employees, due to an increase in claims volumes and costs, a 3% increase in the Earners’ levy. More>>

Women's Affairs: Government Accepts Recommendations On Pay Equity

The Government will update the Equal Pay Act and amend the Employment Relations Act to implement recommendations of the Joint Working Group on Pay Equity. More>>

ALSO:

Immigration: Increase In Seasonal Workers For RSE

The current cap will be increased by 1,000 from 9,500 to 10,500 RSE workers for the 2016-17 season. Mr Woodhouse says the horticulture and viticulture industry is New Zealand’s fourth largest export industry, producing almost $5 billion in exports. More>>

ALSO:

Hurunui: Crown Irrigation Invests Up To $3.4m In North Canterbury

Crown Irrigation Investments will invest up to $3.4m in the Hurunui Water Project, an irrigation scheme that will be capable of irrigating up to 21,000 hectares on the south side of the Hurunui River in North Canterbury. More>>

ALSO:

Not So Great:Butterfly Eradication Success

The invasive pest great white butterfly has been eradicated from New Zealand in a world-first achievement, Primary Industries Minister Nathan Guy and Conservation Minister Maggie Barry say. More>>

Gordon Campbell: On The Government’s Tax Cuts Fixation

Long before the earthquake hit, the dodginess of the government tax cuts programnme was evident in the language of its packaging. It is being touted as a “tax cuts and family care” package... More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news