Prime Minister John Key thinks it is very unlikely that Gareth Morgan will make it to Parliament in the next election.

The philanthropist yesterday launched a new political party, saying he wanted to "light a fuse" under Parliament and break the stranglehold that career politicians have.

Morgan resigned as a trustee from his Morgan Foundation and now heads the Opportunities Party, which will release policy proposals in the coming months.

"It's very unlikely that he'd win votes from us...if he won any would be from Labour and the Greens," Key said.

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"I think it shows you that he's pretty dissatisfied with what they're saying and the way that they're performing."

But the Prime Minister said like many "big personalities" who have tried in the past, it wasn't easy to get into Parliament.

Prime Minister John Key. Photo / Mark Mitchell
Prime Minister John Key. Photo / Mark Mitchell

"There are plenty of people who have come into politics with quite a bit of cash and a big personality and haven't really got there," he said.

"I think it is very unlikely that he'd get above 5 per cent, but I mean if Labour and the Greens really implode he could. That's where his target market is with getting
votes."

Morgan told media outside Parliament yesterday that he decided to enter politics because solutions were "just so easy, really".

"I've sort of worked on this stuff for so long, and you sort of sit back objectively," Morgan said.

"I've got a reasonable amount of confidence I know what to do, and then I say, 'Why the hell don't they do it?'"

He blamed "establishment parties and career politicians" for high levels of inequality and falling housing affordability.

"They give priority to no change, they do not like disturbing voters, they feel, I feel that they look at their career prospects above all else.

"They act much as trustees do in the financial sector which means that they don't take appropriate risks, and obviously as a result of that we don't get the level of returns that we should."

When asked if his party would follow in the footsteps of Kim Dotcom's Internet Party in handing the election to National, Morgan answered: "Kim Dotcom, I can think of something better - how about Trump?"

"Well I guess in the sense (we are similar) that I haven't joined an establishment party, that we are coming in here to push whoever the Government of the day is," Morgan added.

He previously made headlines for his campaign against cats, saying wandering domestic felines were "the biggest predator by a mile" in urban areas.

Morgan also made an offer to help buy Awaroa beach in Abel Tasman as part of a crowdfunding campaign provided his family could have 15 years of exclusive access.

The crowdfunding campaign was eventually successful, but the offer was turned down.

His party will start releasing its policies from next month.