17 Oct 2012

Asset share choice good option - iwi leaders

7:19 pm on 17 October 2012

The Iwi Leaders Group is pleased that tribes have a choice to take up the shares saying the Government has done the right thing.

The chair of the collective, Mark Solomon, says at the end of the day, it will be entirely up to each iwi - but the option is there to take the stakes.

He says it's very important for tribes to secure assets ahead of the Treaty settlement - because reaching a final resolution with the Crown can take years.

Mr Solomon maintains that the Iwi Leaders Group has attempted to keep the water rights issue and share sales separate.

Ruapehu iwi holds back on Govt offer

A Ruapehu iwi says it will hold back on the Government's offer to set aside shares in state owned energy companies until the proprietary water rights issue has been resolved.

The Government says it is offering those tribes who haven't settled their Treaty claims with the Crown a chance to receive a percentage of their forecast settlement package 'on account' in the form of shares in the companies to be partially-sold.

Ngati Rangi Treaty negotiator Che Wilson says his iwi can see the benefits of the offer especially because it will help speed up negotiations with the Crown.

He says the great thing about it is if an iwi does agree to up front shares, the hope is that it will hasten their Treaty negotiations.

Mr Wilson says evidence has shown in the past that when iwi do take up offers, their settlements have been resolved faster than those who have rejected such propositions.