John Key will pass the legislation and then hand the majority of the foreshore and seabed to Maori interests. The new owners of the Taranaki foreshore and seabed will promptly sell the ironsands worth 1 to 5 trillion dollars (how many zeros is that?) while still collecting the Maori only benefits. Key will then sell the electricity companies, including coal and gas deposits, so that in a short time his overseas buddies will have ownership of the cash flows they generate and increasing profits.
The winners are Maori interests (but not everyday Maori) overseas investors and of course Key who will have at least two generations of Maori support. No need to say who are the losers.
What if he declared the foreshore and seabed belonged to all and the 1 to 5 trillion going to the Government to pay for infrastructure. If he needs more, don't sell the assets but develop an investment vehicle with a combination of interest rates and tax advantages where the Mum and Dad investors would be attracted.
That way all NZ benefits, except Key has not bought the ongoing support of the Maori Party. I am sure he will find another way to do that.
Stuart Keene, Otumoetai.