Three Waters is no more, as the reforms have been rebranded to Affordable Water Reforms.

The Government has scrapped the 4 mega entities in favour of 10 entities, with their boundaries established roughly along the lines of New Zealand’s 16 regional councils.

ZB Political Editor Jason Walls says the new entities will allow local councils more direct engagement with the water entities that manage the water services on their behalf.

Jason Walls also noted that the divisive co-governance aspect of the reform was absent from the initial release, but Prime Minister Chris Hipkins' statement suggests that co-governance is still on the table.

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