Mood of the Boardroom: CEOs rank National’s front bench

CEOs believe the National Party possesses a formidable pool of talent capable of leading a new government, should they be given the opportunity.

The Mood of the Boardroom survey asked them to rate each of the top 10-ranked National MPs.

Topping the list of National’s front bench in the eyes of CEOs is deputy leader and finance spokesperson, Nicola Willis, who received an impressive score of 4.19/5. This is on a scale of 1 to 5 where 1= not impressive and 5= very impressive.

Erica Stanford, spokesperson for education and immigration, was rated 4.02/5 and Chris Bishop, in charge of infrastructure, housing and RMA reform, earned a score of 3.68/5.

The head of a large asset management firm expressed some disappointment in Bishop’s recent U-turn on the bipartisan accord for townhouse zoning that allows developers to build more medium-density homes within existing urban areas.

“Chris Bishop is likeable and capable, but his walk back will make it much harder for New Zealand to address housing affordability, infrastructure and climate change.

“He is smarter than this, so perhaps it just reflects an attempt to win over small-minded voters?”

Health spokesperson Dr Shane Reti came in fourth, scoring 3.68/5 — just ahead of leader Christopher Luxon with a rating of 3.37/5.

Even the lowest scoring of the 10, former party leader Judith Collins, received a reasonable score of 2.79/5.

Judith Collins. Photo / Mark Mitchell

Collins is National’s spokesperson for science, innovation and technology, along with foreign direct investment, and digitising government and land information. She has been particularly active and adaptive in her roles after losing the party’s leadership position. Collins says a willingness to be interested in whatever comes her way has been part of her longevity in politics.

Although she wasn’t specifically asked about, a CEO in the education sector called out first-term MP Penny Simmonds as “impressive”.

Simmonds had been in charge of the Southern Institute of Technology (SIT) for 23 years, which offered zero fees for locals and long-distance students. Ranked 16th on the National Party list, she is tipped as likely to become the minister in charge of unravelling the amalgamation of polytechnics into the single entity Te Pukenga, should the National Party form the next government.

The election policy grid

Party policies were rated on a 1-5 scale where 1 = “very poor” and

5 = “very good”. Herald Mood of the Boardroom 2023 Election Survey.

LABOUR

· Not progressing with a wealth tax 3.54/5

· Not progressing with a capital gains tax 2.73/5

· The 39% highest marginal tax rate 2.08/5

· Increasing the Trustee rate to 39% 1.95/5

· Extending the In-Work Tax Credit 1.89/5

· Removing GST on fruit and vegetables 1.24/5

Property taxes

· 10-year bright line test 1.96/5

· Interest deductibility limitations 1.9/5

· Residential loss quarantining rules 1.9/5

· Removing tax depreciation from commercial buildings 1.67/5

What they are saying

· ”I think there is room for capital gains tax but not with a government that wastes money,” dairy company boss.

· New Zealand is one of the few countries in the world without a CGT. It is time, and Yes it will affect you and me,” Erica Crawford, Loveblock Wines

· NZ needs some form of wealth tax,” energy sector chair.

· ”The government has a number of initiatives underway to effectively implement a capital gains tax. This shouldn’t be done under the radar and should be a publicly announced intention or policy,” private equity boss.

GREEN PARTY

· $10K tax-free threshold (personal) 2.3/5

· Capital gains tax on realised real (not nominal) gain basis 1.65/5

· Corporate tax rate to increase to 33% 1.33/5

· 1.5% tax on assets held in trusts (to bolster wealth tax) 1.14/5

· Wealth tax at 2.5% over $4 million (couples), $2m singles 1.13/5

· Up to 45% on income over $180k (personal) 1.13/5

What they are saying

· ”Demonstrate a capability to spend appropriately and then I’ll decide if you Should have more via tax take,” food and beverage director.

· ”If I wanted socialism I would live in Venezuela,” logistics CEO.

· ”Ultimately New Zealand will need some form of realised and real capital gains tax. A wealth tax is just dumb,” investment banker.

· Wealth tax is a good idea, but set too high,” energy sector chair.

· ”Wealth tax and trust tax and CGT targets the same group of individuals. Too much,” wine exporter.

TE PĀTI MĀORI

· $30k tax-free threshold (personal) 1.69/5

· Foreign companies tax at 2% (NZ revenue not taxed in NZ) 1.55/5

· Vacant house tax at 33% on any unrealised capital gain on vacant homes 1.39/5

· Non-personal tax rates to align to 33% 1.29/5

· Land banking tax at 33% on any unrealised capital gain 1.29/5

· GST removed on all food items 1.29/5

· Up to 48% tax on incomes over $300k (personal) 1.08/5

· Wealth tax from 2% up to 8% on wealth over $2m 1.04/5

What they are saying

“Try not to remove any incentive for doing well” — food and beverage boss.

“God help us — it’s like Te Pāti Maori think the economy is just some machine that will provide endless funding or redistribution and be totally unimpacted by such lunatic policies. If this is the contribution we can expect from co-governance then we should all be very concerned” — investment banker.

NATIONAL

· Taxing offshore online gambling 3.47/5

· Adjusting certain personal tax brackets for inflation 3.34/5

· Introducing user pays to immigration levies 3.18/5

· Introducing a new childcare tax credit 3.08/5

· Expanding the Independent Earners credit and Working for Families 2.91/5

· Restoring interest deductibility for residential landlords 2.88/5

· Introducing a 15% foreign buyer’s tax 2.77/5

· Removing and reducing certain fuel taxes 2.57/5

· Reducing the bright line test from 10 to 2 years 2.53/5

· Removing tax depreciation on commercial buildings 1.94/5

· Removing GST on certain App services 1.79/5

· Reverse the Auckland regional fuel tax, 10-year bright line extension, the Clean Car Discount, the Reserve Bank’s employment mandate, the Income Insurance Scheme (on hold by Labour) and Fair Pay agreements 3.55

· Restore interest deductibility on rentals 3.56

· A $24.8b spend over 10 years on 13 roads of national significance, public transport projects in Auckland and the lower North Island, and a range of resilience upgrades 3.99

· Scrap the Three Waters entities within 100 days 3.45

· Allow councils to opt out of the medium-density law 3.24

· A new $1b fund to incentivise councils to deliver housing 3.58

· Allow under-30s to use KiwiSaver to pay for rental bonds 2.52

What they are saying

· ”I don’t support foreign buyers buying property without significant hurdles,” industrial company boss.

· ‘No policy to be found on corporate/business tax levels. A reduction in business tax to encourage more investment.

· Particularly to attract more offshore investment opportunities,” Don Braid, Mainfreight.

· ”User pays for immigration will have a significant impact on international education, our fourth largest export sector which is already operating under significant disadvantages,” tertiary sector chief.

ACT

· Repealing (most) of Labour’s property-related taxes 2.79/5

· Two tax rate system: 17.5% and 28% (personal) 2.43/5

· ETS revenue given to households 2.25/5

What they are saying

· ”Flat tax rates are a dream that will never fly in reality,” logistics boss.

· ”Simplify the tax system for both business and individuals. It is far too complicated, far too many loopholes and by increasing the complexity so to the increase in bureaucracy managing the tax take,” Don Braid, Mainfreight.

NEW ZEALAND FIRST

· Adjust income tax brackets to inflation 2.98/5

· Provide tax incentives to promote added value 2.38/5

· Remove GST from basic foods including fresh food, vegetables, meat, dairy and fish 1.36/5

What they are saying

· ”Don’t screw with GST on everything — it is too hard to administer,” logistics boss.