KEY POINTS:
Opponents of MMP like to cite the wacky policies of third parties as proof the tail should never be allowed to wag the dog. In fact, voters have minor parties to thank for some important government initiatives.
After the last election, for example, United Future demanded
a business tax review which resulted in a lower corporate tax rate, and tax credits for R&D.
The racing industry has done well out of Winston Peters, and the primary industries have probably been surprised at how much they've been able to wring out of Jim Anderton. Local manufacturers can thank the Greens for the Buy New Zealand Made campaign, and NZ First for Export Year.
So what policies from the minor parties are likely to be part of the horse-trading that will begin next week?
As we know, the Maori Party is keen to remove GST on food. United Future wants couples with dependent children to be able to split their incomes for tax purposes. And the Greens want much higher penalties for companies that pollute.
The minor parties are well aware that most of the items on their wish lists are never going to be taken seriously. However, a skim through their election manifestos does give a flavour of the policies they will be pushing which could affect business.
The Greens are probably the business sector's worst nightmare. They want a capital gains tax, more eco-taxes, and a tax on international currency movements. They would also like a Code of Corporate Responsibility, would not allow foreigners to buy land, and want to increase the minimum wage.
However, the Maori Party's policies are not dissimilar. They also want to increase the minimum wage; to develop a Genuine Progress Index that measures social, cultural and environmental costs and benefits; and lower taxes for those on low incomes. Like every other party, they would like to see lower compliance costs for small businesses. They are not so keen on the current version of KiwiSaver.
Jim Anderton, also known as the Progressive Party, is keen on a shorter working week, an infrastructure development bank, a minimum code of conditions for workers, and legislation to ensure that women receive equal pay for work of equal value. He also wants a big boost for OSH.
NZ First, should it make it back, wants to lower GST to 10 per cent, rewrite the Reserve Bank Act, and tax incentives to grow exports. It also wants to change investment laws "to support investors not directors", and to look at the possibility of setting up a fund to reimburse investment losses "under certain circumstances".
Peter Dunne, who sees himself as the champion of SMEs, wants to make KiwiSaver compulsory, is against any further regulation of the electricity industry, and wants to find an alternative to local body rates on domestic and commercial properties.
Act is, of course, the darling of many businesses and, although it failed to get its Regulatory Responsibility Bill into law, has already cajoled the Government into setting up a taskforce to look at ways of improving the regulatory process. It wants to dump the emissions trading scheme, pull out of the Kyoto Protocol, lower taxes, reform the Resource Management Act, cut remaining tariffs on imports, and repeal the Employment Relations Act.
As far as baubles go, Peter Dunne is a prime contender for the role of Speaker if there is a change of Government. Rodney Hide, meanwhile, has been has been named as a potential Minister of Revenue, or Corrections. That would mean less time for ballroom dancing and long-distance swimming - and that's not necessarily a bad thing.
