‘Political horsepower’

Bill English is admired by chief executives for his financial prowess. But they feel a lack of boldness and political chutzpah hold him back. English became Prime Minister in December 2016 after John Key’s unexpected resignation.

“It is challenging replacing one of NZ’s most popular Prime Ministers less than a year out from the election, said Forsyth Barr managing director Neil Paviour-Smith.

A longtime National MP, English was briefly Finance Minister in the 1990s Bolger Government.

He reclaimed the finance portfolio in 2008 when the Key Government took office in the midst of the Global Financial Crisis.

CEOs rate his focus on getting the Government’s books back into the black as the most significant achievement of the National Government since the 2014 election.

Investment banker Rob Cameron, who was himself one of Treasury’s architects of the major 1980s economic reforms during the Lange/Douglas era, describes English as “an outstanding and hardworking Minister of Finance”.

“He is still being tested in the PM’s role in relation to political management and ability to form a coalition.”

Others laud him as the economic architect” and the “political horsepower” of much of New Zealand’s success.

“We are lucky to have him,” says Chorus boss Kate MeKenzie. “I often hear him described as the ‘brains of the outfit’”.

“He deserves to be rewarded for his outstanding economic stewardship,” affirmed an agribusiness boss.

Said Port of Tauranga boss Mark Cairns, “Bill has done a fantastic job as finance minister in getting the country through the GFC and two earthquakes with the books in reasonable shape.”

On the personal front, English is seen as variously as a “nice man and good family man”.

“Bill is a fabulous servant of NZ who in private settings is a funny, warm and relaxed individual who has done a tremendous job for New Zealand economically,” said a leading investment banker. “He has trouble connecting or conveying these qualities in the mass media format.”

EMA chief Kim Campbell was perceptive.” His self-effacing Southern reserve is misconstrued as blandness.

“Sadly we live in an the age of celebrity and infotainment where image dominates substance,” explained Campbell. “He has shown an astute hand at managing the economy and been an innovator on social issues.”

English — a former Treasury official himself — has introduced significant Government-led social reforms which have won international praise particularly from the Australian Liberal Government,

Said AIA chair Theresa Gattung, “Bill is completely genuine in his focus on social investment and putting in place game changing solutions to intergenerational poverty and some of New Zealand’s most entrenched social problems.”

Adds Paviour-Smith,“The Prime Minister has championed the social investment approach, being prepared to admit that previous approaches haven’t worked and holding agencies to account to know what the problems are and seek alternative solutions.”

But CEOs feel English is being held back by a lack of charisma.

“He is a solid performer but vulnerable to a charismatic opponent because the electorate in general probably seeks a bit of excitement,” said a lawyer. “The missing attribute is appeal,” added a manufacturing chief.

“I’m a big English fan as Minister of Finance,” said an exporter. “He’s a brilliant second in charge and a safe pair of hands.

“But he doesn’t have the political management or delivery required by a good PM.

“The party looks and feels staid and flat-footed under his leadership even though not much has changed in term of economic management.”

Ironically some of the most cutting criticism comes from the financial community.

“Mr English was a reasonably competent ‘status quo Minister of Finance’, holding the line on government spending against the usual pressures from spending ministers,” said a senior banker. “But he failed to do nearly enough to solve the Auckland housing crisis ( though clearly understanding what needed to be done), or to make the structural changes which might have improved our productivity performance.”

English’s brand was tarnished by the “Todd Barclay affair” which saw the young MP forced to resign after his former electorate secretary revealed he had made secret tapes of conversations.

The prime minister — who represented the electorate before Barclay — was well across the former MP’s actions.

“He has taken a hit with the Todd Barclay stuff,” said a legal firm chief. “But it is a tough challenge to show the vibrancy of a three-term Government.”