November 04, 2012
Treaty ratchet clause brings cash top up
Ngāi Tahu and Tainui will have more cash to invest, with the Government confirming it is now liable for top up payments on their historic treaty settlements.
Because they were the first to settle claims under the fiscal envelope policy, the two iwi were given a special relativity clause to ensure that if the Crown paid more than $1 billion in treaty settlements, their share of the total would stay at 16.1 and 17 percent respectively.
That means Ngāi Tahu is due about $68 million, while Tainui will get $70 million.
The relativities will be assessed again in five years.
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