Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


New Zealand SMEs want longer term, fewer politicians

New Zealand SMEs want longer term, fewer politicians


A longer parliamentary term and fewer members of Parliament are two key changes that New Zealand business owners would like to see, according to the Grant Thornton International Business Report (IBR).

The survey showed that 70% of participants wanted the parliamentary term increased to four years and 60% would like to see the number of MPs or seats in Parliament reduced. Fifteen percent wanted the parliamentary term extended to five years.

Greg Thompson, Partner and National Director, Tax at Grant Thornton New Zealand, said that the desire to have a longer parliamentary term recognises the maturity of the New Zealand political system since the introduction of MMP.

“MMP, compared with the old first-past-the-post system, gives a much wider representation in parliament which in turn takes longer for decisions to get through the system.

“Just look at the Government’s assets sales programme where it wasn’t possible to implement the entire programme in one election cycle. This disjointedness then flowed on to the capital markets with a loss of general cohesion in the New Zealand economy.”

The survey also showed that 38% thought that MMP was the best scenario while 32% thought it should be abolished.

“It is becoming very obvious that with MMP and multiple parties there is always the ongoing need to ‘do a deal’ which takes time.

“For the business owner, this deal making slows down political processes which hinders their own decision making. What a business owner wants is clarity and stability upon which they can plan. The present electoral system and term does not deliver those two requirements.

“While there is a general acceptance of MMP, the fact that 60% of the respondents want the number of MPs or seats in Parliament reduced indicates a belief that ‘too many cooks’ are slowing down the parliamentary process. They prefer quality to quantity,” he said.

In comparison with New Zealand’s three-year term, the United States and the United Kingdom have four and five year election cycles respectively. New Zealand is one of the few countries in the world to retain a three-year cycle.

- ends -

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Must Sell 20 Petrol Stations: Z Cleared To Buy Caltex Assets

Z Energy is allowed to buy the Caltex and Challenge! petrol station chains but must sell 19 of its retail sites and one truck-stop, the Commerce Commission has ruled in a split decision that acknowledges possible retail price coordination between fuel retailers occurs in some regions. More>>

ALSO:

Huntly: Genesis Extends Life Of Coal-Fuelled Power Station To 2022

Genesis Energy will keep its two coal and gas-fired units at Huntly Power Station operating until 2022, having previously said they'd be closed by 2018, after wringing a high price from other electricity generators who wanted to keep them as back-up. More>>

ALSO:

Dammed If You Do: Ruataniwha Irrigation Scheme Hits Farmer Uptake Targets

Enough Hawke's Bay farmers have signed up for water from the proposed Ruataniwha Water Storage Scheme for it to go ahead as long as a cornerstone institutional capital investor can be found to back it, its regional council promoter announced. More>>

ALSO:

Reserve Bank: OCR Stays At 2.25%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2.25 percent, in a decision traders had said could go either way, while predicting inflation will pick up as the slump in oil prices washes out of the data and capacity pressures start to build in the economy. More>>

ALSO:

Export Values Down: NZ Posts Biggest Annual Trade Deficit In 7 Years

New Zealand has recorded its biggest annual trade deficit since April 2009, reflecting weaker prices of agricultural commodities such as dairy products, beef and lamb, and increased imports of vehicles and machinery. More>>

ALSO:

Currency Events: NZ's New $5 Note Wins International Banknote Award

New Zealand’s new Brighter Money $5 note has been named Banknote of the Year in a prestigious international competition. The $5 note was awarded the IBNS Banknote of the Year title at the International Bank Note Society’s annual meeting. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news