KEY POINTS:
Finance Minister Michael Cullen remains master and commander of the New Zealand economy on track to deliver personal tax cuts next year with no heir apparent in sight.
Cabinet's "Mr Fix-it" has been put in charge of the difficult Waitangi Treaty negotiations and - although not publicly designated
- is expected to be the major driver of the critical Auckland issues and take more oversight of the economic aspects of climate change policies.
In her Cabinet reshuffle yesterday, Prime Minister Helen Clark opted for a "steady as she goes" approach to her assignment of the portfolios affecting business.
Business wasn't expecting radical change, given the paucity of commercially aligned talent on Clark's side.
She has rewarded the competent by elevating two Cabinet ministers to the front bench to drive heavyweight portfolios and left senior performers in place such as Jim Anderton and Annette King. And Lianne Dalziel continues with commerce.
Rising star David Parker retains energy and climate change but has missed out on a front-bench role - a sign that Parker has yet to gain full confidence among the critical circle of senior ministers.
Trade Minister Phil Goff has lost out again. The hefty domestic portfolios that would cement his claims to be Clark's heir have gone to David Cunliffe (health) and Chris Carter (education), who go on to the front bench, and Ruth Dyson (social development).
He hasn't even been designated Cullen's deputy - continuing to share an associate finance minister designation with two others: Trevor Mallard and Clayton Cosgrove. Instead Goff has been parachuted in to clean up the mess in corrections.
Mallard's been kicked down a peg or two. But his retention of state-owned enterprises and the addition of Labour suggests that Clark has not ruled him out of contention for a front-bench role in future - once he's done his requisite "time in the snow".
Pete Hodgson has been portrayed as a loser for failing to make a fist of the difficult health portfolio. But business will be comfortable with Hodgson in the economic development portfolio (which he picks up from Mallard) with tertiary education (which lightens Cullen's workload) and research science and technology. He's been across these areas during earlier terms of the Clark Government and performed creditably.
Business will also get up close with Cosgrove, who takes on immigration and small business. It will look to him to sort out the Eden Park funding mess and ensure the ducks are lined up for rugby World Cup 2011 before New Zealand becomes an international laughing stock (again).
Newbie Cabinet minister Maryan Street comes on to the business patch with ACC and housing. Shane Jones inherits building and construction from Cosgrove, but his key challenges will be to work with Cullen to finalise the Treaty negotiations and get alongside Goff in trade to ensure the Maori "3Fs" ( fishing, farming and forestry) are leveraged better than has been achieved during Parekura Horomia's stewardship of Maori economic issues.