9. Hon TAU HENARE (National) Link to this
to the Minister for Treaty of Waitangi Negotiations
What are the economic benefits of Treaty settlements?
Hon CHRISTOPHER FINLAYSON (Minister for Treaty of Waitangi Negotiations) Link to this
Treaty settlements can provide a regional economic stimulus that boosts investment, creates jobs, and lays the foundations for future economic success. Ngāi Tahu, for example, have built up their 1998 settlement of $170 million into an asset portfolio of tourism, property, fisheries, and investment that is today worth around $609 million, with equity of almost $500 million.
What recent milestones have been reached in Treaty settlements that will see significant economic benefit flowing into New Zealand’s regional economies?
Hon CHRISTOPHER FINLAYSON Link to this
On Saturday, 4 July the Crown marked the transfer of title to 90 percent of the Kaingaroa Forest to eight iwi. This transfer included almost $450 million in land and Crown forest rentals, and that represents a significant boost to the regional economy. The settlement provides certainty for the future of forestry in the central North Island and will hopefully increase productivity as iwi progress and diversify into value-added manufacturing activities. Other economic opportunities could also open up as iwi develop other resources in the region such as sustainable geothermal energy.