Prime Minister John Key giving a speech in Tauranga earlier this year. Photo/file
Prime Minister John Key giving a speech in Tauranga earlier this year. Photo/file
Key business leaders from Tauranga are confident the market will stabilise after the shock resignation of Prime Minister John Key and say the timing of his announcement was right.
Priority One chief executive Nigel Tutt said ongoing stability was their prime consideration.
"I wouldn't imagine it will have any effecton the Bay of Plenty, so long as stability is maintained.
Nigel Tutt, Priority One CEO. Photo/file
"We've been blessed to have a very stable Government for years now, and you can see the economic growth of the country is in part responding to that."
He said the timing of Mr Key's resignation, about a year out from the next general election seemed "about right".
Tauranga Chamber of Commerce chief executive Stan Gregec said the market had taken a downturn following Mr Key's resignation but he expected it would stabilise.
With Steven Joyce or Bill English at the helm there would not be much difference, Mr Gregec said.
Stan Gregec, Tauranga Chamber of Commerce CEO.
"Neither of them would be known for taking things in a new or different direction."
Mr Gregec thought Mr Key seemed to have "run out of puff".
Priority One chairman Brett Hewlett did not believe it would significantly impact Bay businesses.
"The policies of Bill English and other key ministers such as Steven Joyce are pretty consistent with John Key's so I don't think his departure will necessarily reflect any change in National Party policy."
Brett Hewlett Priority One chairman.
Mr Hewlett agreed the timing was just right, saying it would leave a decent space until the next election so who ever "assumed the throne" would have time to establish themselves.
"The thing that's going to be the most difficult to replace is his statesmanship. His leadership and profile internationally is incredibly good - it's a hard act to follow," Mr Hewlett said.
Tourism Bay of Plenty chairman Des Hammond said it was too early to assess.
"We're all at the impressions stage and it needs to be given some thought.
"I think it's fair to say that John Key's resignation has come as a surprise."
