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Regions Better Off with Share of Royalties

Rt Hon Winston Peters

New Zealand First Leader
5 SEPTEMBER 2014

Regions Better Off with Share of Royalties

National is rejecting a game changer for the regions - the sharing of hundreds of millions of dollars from royalties from oil, gas and minerals, says New Zealand First.

“National’s blatant rejection of this effective distribution of wealth underscores their shameful neglect of the regions over the past five and a half years,” says New Zealand First Leader Rt Hon Winston Peters.

“New Zealand First’s Royalties for the Regions scheme, which allows 25% of the royalties from extractive industries to be kept in the region, has received strong support.

“The regions generate our mineral and oil wealth, they should have a share of the royalties and make their own decisions about how best to use this money for development and job creation.

“Mayors and their representative body Local Government New Zealand see the sense in this fairer distribution.

“For National to claim all the royalties must be shared across the country is nonsense.


“It is the local ratepayers who have to fund most of the infrastructure, which the extractive industries use. They should have a share of royalties to help with this.

“A share of royalties will assist in long term development and the inevitable clean up when it comes to an end.”

ENDS


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