Corporate fear of left alliance ‘well gone’
SkyCity chairman-elect Rob Campbell says Jacinda effect has changed the game
Fear of a Labour/Green Government in the business community is “well gone”, says SkyCity Entertainment chairman-elect Rob Campbell.
Speaking to Fran O’Sullivan for the Herald’s Mood of the Boardroom series, Campbell said the “Jacinda effect” of the new Labour leader had changed the game significantly and the business and wider community was relaxed about the prospect of a change in Government.
An economist by training, Campbell is chairman of retirement village operator Summerset Group, and campervan rental company Tourism Holdings, as well as a director of commercial property investor Precinct Properties New Zealand — all of them NZX-listed companies.
“The old election roulette wheel is well and truly running, and a lot of money is going on the red squares.”
The Greens had improved their standing in the business community, removing the concern about a Labour/Green coalition, Campbell said.
“The element of fear that was in the business community about a Labour/Green Government, I think, is well gone,” he said.
“Businesses that are good businesses will still be able to do well under everything I’ve seen from the Labour Party.”
Issues could arise with tax complexity under Labour, but the business community also faced problems under National-led govern- ments, Campbell said.
“Business doesn’t necessarily do better under National-led governments.”
Productivity was the biggest issue facing the business community, he said. The current Government had provided economic stability but a lack of growth.
“There is an increasing recognition among the business community and the wider community that things have got a little stale.”
Campbell described Bill English as a very capable economic manager and one of New Zealand’s best Finance Ministers, but said he had not had a chance to prove what kind of Prime Minister he would be. “We haven’t really seen enough yet to know if he would be a very good Prime Minister or not, and I guess in the end he may not get the opportunity to show that.” Inequality was another big issue for Campbell. “The people who are at the wrong end of the inequality really have genuine social and financial needs that are not being met under the current system.” Asked his opinion on Finance Minister Steven Joyce and his Labour Party counterpart Grant Robertson, Campbell said Robertson might be less experienced but that was not necessarily a bad thing.
“[Robertson] is probably more inclined to think and research issues than Steven might be,” he said.
“You might say you don’t want people to learn on the job, but I always have.
“I don’t see why Grant couldn’t do that as well.”