The water rights debacle has gone on long enough. The Maori say they own it because they were here first, John Key says no-one owns it, then plans to float 49% of shares on something no-one owns.
Maori cannot, nor ever will own the water, it is a natural phenomenon and the same water that flowed past an hour ago is not the same water that is there right now.
In effect they are claiming they own water that evaporates in one country and falls here. It's laughable.
The Maori never did anything towards harnessing the power of the water,there was no electricity or tap water when the settlers arrived.
The harnessing of water for power was done by the Europeans with their engineering knowledge. It was paid for by the people through their taxes,
for all people, European, Maori and other races alike, it's a public asset. The government own nothing, they are not producers, they are distributors, and our taxes pay for power stations and everything else the Government garner our money in for.
Key is selling shares of an asset that he has admitted does not belong to anyone. So is this legal? A referendum is needed for a true democratic decision on something as momentous as our water.

A. Taylor, Avenues.