I hope you have all enjoyed summer and time with the whānau. It's been a busy start to the year for Labour, and we're getting right back into things at the Beehive this week.
Our Government team spent a great week at Waitangi, with the Prime Minister visiting small communities in Northland and responding to aspirations in the regions. They announced a new initiative for Māori landowners across the country.
At Otamatea marae in the Kaipara the $100 million Provincial Growth Fund package for Māori landowners was launched by the Prime Minister. When people ask why we are doing this I remind them that official studies say 80 per cent of Maori land is underutilised.
One of the biggest reasons for this is that access to capital remains a problem for our landowners. Unlocking this land would help not only whenua Māori but make our regions and Aotearoa itself more prosperous.
The importance of this was underlined by a report this week that said the combined wealth of the nation's 75 iwi groups rose by 1.2 billion to almost $9 billion. The Raukawa iwi based in the South Waikato delivered the best return on assets in 2018, with close to 10 per cent.
So where does Māori land fit into this. Well in the decades ahead this could mean economic benefits for the country of up to $650 million from Te Tai Tokerau, Waikato, Waiariki and Te Tairawhiti.