29 Jun 2007

Niue encouraged to seek a big trust fund boost from New Zealand

10:03 am on 29 June 2007

A Niue MP says if the island had a substantial trust fund it would be easier to manage and plan its affairs.

Hima Douglas says if New Zealand, Niue's main aid provider, was to provide a one off payment of one hundred and twenty million US dollars, it would allow the trust to generate enough income through interest to meet the bulk of the island's costs.

Mr Douglas says if the trust, which currently has around 20 million US dollars in it, was much bigger, there'd be no need for the often stressful annual treks to Wellington to seek more money.

"Year in year out we have had to carry out negotiations with New Zealand, and as years go by the process, at times, - it can be quite stressful at times. So in order to overcome this I was suggesting that perhaps what we should be looking at is a substantial boost by New Zealand to our trust fund."