Budget 2017: Significant investment in Maori Development to make a difference
The Government is investing $93 million in Maori Development as announced by Finance Minister Steven Joyce. Areas of investment are Maori tourism, housing, regional development, Te Reo Maori initiatives, the new Maori Land Service and whanau centred initiatives.
All of these investment focus areas will have a positive impact for Maori and NZ as long as the funding is applied to initiatives that will make a sustainable economic difference. Partnering with the best at BDO to assist in building the feasibility case to support your funding application will be vital in securing investment and resulting in positive outcomes.
It is no surprise to the team at BDO that the Government is investing in Maori Development as the potential for growth is real and is NZ’s point of difference in the global market.
The $93 million is spread across some key areas:
- $31 million has been designated to establish the Maori Land Service. Across NZ there is a significant portfolio of Maori Freehold land, some 1,465,917 ha’s as reported by the Maori Land Court in 2012. The impact of the Maori Land Service will be significant, BDO in collaboration with our clients will be at the forefront of its design to ensure the impact is positive for the development of Maori land. This has the potential to put real money into the pockets of whanau across the motu.
- Maori Tourism will have $10 million invested in it. The richness of the Maori story is second to none, BDO is passionate alongside our clients in utilising this investment to enhance the economic impact it will have on our communities and whanau.
- The BDO team are heartened that the Government has allocated $21 million to invest in Te Reo as a living and vibrant language. A signal that it is vital to New Zealand locally and on a global stage as our point of difference in the international market. Maori stories and culture come to life when told in the Reo. This medium enhances our ability to develop a strong Tourism offering to foreign visitors.
The economic impact on our place we call home will be enormous if we can embrace and harness the investment from Government. At BDO we believe that we need to work together for the further advancement of whanau, our community and the next generation. It is up to us to take this opportunity and turn it into something real for the future, a challenge BDO is up for, are you?
For more on the above, please contact your local BDO representative.