New Zealand CEOs split over Opportunity Party’s coalition prospects
A NZ Herald survey found business leaders almost evenly divided on whether Qiulae Wong has made Opportunity a credible coalition partner, while its tax and income proposals drew strong criticism.
New Zealand’s Opportunity Party has divided business leaders over its potential role in a coalition after the November 7 election: 41% of respondents to a NZ Herald survey said leader Qiulae Wong had made it a credible partner, while 40% disagreed and 19% were unsure. The findings, published late October 21 UTC, show the political stakes for a party whose recent polling could put it in a position to decide who governs.
The Herald reported that a 1News Verian poll put Opportunity at 8% support, equivalent to 10 parliamentary seats. If that level of support holds at the election, the party could hold the balance of power. The party, formerly known as TOP, has failed to enter Parliament at three previous elections.
Opportunity’s policies face business criticism
Opportunity proposes an annual land-value tax of 1.75% on urban land and 0.5% on rural land, according to the Herald. In its survey, the tax received a weighted average rating of 1.30 out of five; 79% of respondents gave it the lowest rating and 2% the highest. The figures describe the views of surveyed executives, not an assessment of the policy’s economic effects.
A proposal to replace main benefits, including New Zealand Superannuation, with a $19,400 annual payment to every adult scored 1.45. The Herald said 63% rated it one out of five and 1% rated it five. It also found that 62% expected business confidence to suffer if Opportunity held the balance of power.
The executives did not speak with one voice. Simon Bennett of Metro Performance Glass remarked, ‘Bizarre really that a job ad for a leader has worked so well.’ A research CEO questioned whether the party’s policies added up fiscally, while an investment banker called its positioning as a potential partner for either side politically astute, the Herald reported.
Luxon rules out a coalition deal
National leader Christopher Luxon has ruled out a coalition arrangement with Opportunity, saying he would not work with a party that wants to tax and spend more. Wong has called that decision premature and said she would approach the leader of the largest party first if Opportunity held the balance of power, according to the Herald. Foodstuffs North Island chief executive Chris Quin called ruling out the party so early ‘a short-sighted decision.’
Opportunity describes itself as seeking a constructive kingmaker role under New Zealand’s mixed-member proportional electoral system. Its website says five policies would be non-negotiable in coalition talks. That stance makes the disagreement over its economic proposals relevant to any negotiations after the election.
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Sources and context
- CEOs divided over Opportunity’s rise as Luxon’s coalition gamble comes under scrutinyNZ Herald
- About — The Opportunity PartyThe Opportunity Party
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