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Tribunal came up a concept iwi don't know much about – PM on shares plus

Prime Minister John Key says a five-week consultation period on "shares plus" is needed with iwi "because the tribunal basically came up a concept they didn’t know much about".

Speaking on TV3's Firstline, Mr Key said he was "totally" confident the Mighty River Power partial float would go ahead next year.

"There’s a slight delay because we need to go through this consultation on this very narrow point of 'shares plus' with the related iwi and interest parties." 

Yesterday, the PM defined "shares plus", a concept pushed by Maori Party co-leader Pita Sharples, as:

The idea that certain Maori interests would be given particular rights and powers in relation to the company, above and beyond the rights of other shareholders.

"The government’s looked at it [shares plus] with its economic people and its legal advisers and thoroughly rejected it," Mr Key said this morning.

"But because they [the Waitangi Tribunal] have raised it, because it’s a new point, realistically the most prudent and conservative thing we can do is consult with that very narrow group so that’s what we’ll be doing.

"The process will take about five weeks then we’ll look to move the asset into the Public Finance Act. That will give certainty and clarity to the market and we’ll begin the float in March 2013."

Mr Key said his government had not been obliged to delay the Mighty River Power float – originally scheduled for this month – to allow time for iwi consultation.

"We could choose not to, obviously. That would probably lead to an action in the courts. We still may end up in the courts and that’s a very realistic probability.

"But the point here is that from the government’s point of view we want to give the markets certainty and clarity and the way to do that is to do everything thoroughly and dot every 'i' and cross every 't'."

Mr Key stressed the narrowness of the consultation on shares plus.

"No one owns water. There won’t be a national settlement and we won’t be holding a national hui."

Comments and questions

Seems at the last election i thought i was voting for Democracy,little did i realise i was voting for Maoriocracy.There appears to be a whiff of veiled threats throughout the land of NZ..At the moment the Democratically elected Government has blinked first,how pathetic.

you are not voting for a democracy, it is a word misused on a daily basis, representative government is a republic, how can we properly choose a government, if we don't even understand what defines forms of rule.

@#2 FFS

I remember one Day an Old MAori said to me.. Its not the Honky we gotta be scared of..Its the Asian..
Water wont mean nothing soon, The country is effectivley BANKRUPT
no Land will be returned from Asian ownership
And soon we will be part of nothing
Hahah even the Aussie of Stopped you coming over there you dumb Kiwis

Oh! Does that mean my Kiwi saver money Is doomed?
What about me a young mother trying to get a life and even with my
kiwi saver contribution the banks wont look at me,
They say I might be eleigible to get a loan HA! what to buy a piece of land
in the swampsI might pull out of Kiwi saver Before the GOVT Uses it are we really Bankrupt?

Good ole "Immagrated" can't spell,can't write,can't come home.Thank God for small mercies!

no one owns water....enough said! sell the 49% shares amd get on with it

The governments own tribunal disagrees with you, and the government for that matter. The courts will too. How can you sell something you don't own anyway?

The sooner the myth of Maori partnership with the Crown is dumped, the better. There never was such a partnership, Maori were given the status of British subjects, no more, no less. Over the past 200 years they have received the benefits of European civilisation, which they have adopted enthusiastically, as would be expected. The intermarriage between the races is a shining example of the co-operation between Maori and pakeha, and we should now be living in harmony as New Zealanders of equal status in our own land.

But look at what we have got. Some New Zealanders claiming to have special benefits over their fellow-countrymen. It's a nonsense which should be dealt to. Bodies such as the NZ Maori Council are overplaying their hand, and risk a significant backlash from the majority of fair minded New Zealanders.

I predict that out of all this, a political force will emerge that will restore this country to a proper democracy. That's not to say that we shouldn't respect all our traditions and culture, indeed we would and would want to, but not to the extent of providing special benefits to a section of the population that are no more indigenous than the rest of us.

nice racist beliefs, you don't even understand what a proper democracy is how could the country return to a proper democracy when it has never been one? Ignorance is rampant in this country, representative government is a republic, not a democracy. People should have to pass a simple test of governmental IQ before voting, spouts like this are just Rupert Murdoch leaking his kingmaker news through the voices of the masses.

Good one anonymous. Sounds like you are just another one that has"studied" politics/governments and now has all the answers based on flimsy and picky interpretations of definitions. Sigh, you're pathetic.

Maori weren't given the status of british subjects, they were promised the same rights and protections as them while maintaining their own rangatiratanga - their right to self-sovereignty, and "the full exclusive and undisturbed possession of their Land and Estates Forests Fisheries and other properties which they may collectively or individually possess so long as it is their wish and desire to retain the same in their possession".

I'm sure that would have been adopted enthusiastically, but in reality that promise was empty.

The political force you predict is already in place - they just found out they're not the law-unto-themselves that they thought they were though.

'Tribunal came up a concept they didn’t know much about' – PM on iwi and shares plus

Maybe they did, "came up a concept they didn’t know much about"
But they sure know a free feed when they see it!

On the contrary - the tribunal found it was the government and their buisness partners that have been getting the free feed. The claimants havn't even asked them to pay the bill - or do the dishes in this case...yet.

It's past time for our elected Gummint to show a bit of spine and get on with managing the country;their performance to date has been most underwhelming.

Special rights because of your race? Sounds alot like apartheid.
Key has bowed to the tiny minority yet again, we definitely need a new word to describe key being blackmailed by the Maori party,
How about brownmailed? Any thoughts?


Special rights because of your race? Sounds like apartheid?
Or could it just be an agreement signed between two sovereign nations that hasn't been upheld?

17% of the population isn't that tiny.

Well done with the 'brownmailed' suggestion. You managed to display your ignorance, arrogance and racism in one sentence.

Democracy - "a form of government in which the people have a voice in the exercise of power". The people have voted. Stop fluffing around.

sound like a bunch of racist whites about to continue the mopping up operation in the colonization of NZ and genocide of the indigenous people. No wonder all of the reasonable descendants of the colonial invaders leave this pathetic racist little imitation of a nation

Sound exactly like what the Maoris did to the Morioris. Genocide of the true indigenous people of NZ. The Maori's ate them and are now trying to have another free lunch with Water Rights.

When there is nothing left to argue this comes out. I can't work out if its the last desparate attempt to salvage some wierd moral victory in a debate or just some sort of colonial superiority-complex-based reflex. Anyways, it really just comes off as a half-ass attempt to distract from the fact that the crown made an agreement with Maori that has yet to be fulfilled.

The Moriori people are not extinct, i think they would be offended by your ignorant, ill-informed comment.

Think you got problems with the water.Once we get that we are coming for the wind farms.


@#24 Ask our mouthpiece David Rankin,he has it all under control.Did you really think when John Key took our beautiful party aboard you would get consensus.We want it to go with our Thirty Six Billion Dollars we scammed of non maori.

I don't understand what you mean. It sounds complex and a little weird.