Media release: Fifty-one business leaders ask political parties to respect property rights
Wellington (Wednesday, 23 September 2026) – Fifty-one New Zealand business leaders have signed an open letter asking every political party to uphold private property rights and freedom of contract.
The signatories include chief executives, chairs and directors of companies in banking, construction, education, energy, farming, finance, fishing, grocery, insurance, manufacturing and property.
The letter responds to campaign proposals that would force supermarket owners to sell to the government, break up a New Zealand-owned grocery group, take a bank into state ownership, separate generation from retail in the electricity sector, rewrite retirement village contracts already signed and cancel mining approvals granted lawfully.
“The people who signed this letter do not often make political statements,” says the Initiative’s Executive Director Dr Oliver Hartwich. “They have signed because the direction of this campaign worries them. When parties talk about forcing owners to sell, breaking up companies and rewriting signed contracts, investors are listening.”
The full text of the letter and the list of signatories follow.
An open letter on the future of New Zealand
To the leaders of New Zealand’s political parties
New Zealand needs investment from both here and overseas to build businesses and create jobs. Investors need confidence that the law will protect what they own and the agreements they make.
Political parties have proposed forcing supermarket owners to sell to the government and promised to break up a New Zealand-owned supermarket group.
They have threatened a bank with a state takeover and pledged to force power companies to separate generating electricity from selling it to customers.
There are also proposals to change retirement village contracts already signed and cancel mining approvals even if granted lawfully.
Beyond such heavy-handed interventions, the anti-business rhetoric of political leaders is deeply concerning. It makes people willing to invest here question whether their contribution is welcome.
We ask every political party to uphold a rules-based economy that respects private property and freedom of contract. The law must protect those rights consistently, whichever party is in power and whichever business is affected.
Businesses must earn their customers’ trust and obey the law. We support strong protection for consumers and action against businesses that break competition rules.
Property rights protect what people own and set limits on political power. A promise of lower prices does not give politicians the right to force owners to sell or break up a business.
Paying compensation to the owners does not remove the wider damage. Forced sales and break-ups tell investors around the world that ownership here depends on political convenience.
Freedom of contract allows people to make lawful agreements they can rely on when planning their lives and businesses. Those agreements should not be rewritten to suit election promises.
Threats can discourage investment before any law changes. Building a factory or a power station means planning well beyond the next election. If investors cannot trust that their rights will be respected, they can take their money elsewhere.
When that happens, New Zealand loses jobs and opportunities for higher wages. Fewer new competitors also mean less choice for customers.
We ask all parties to withdraw these proposals. Make it easier to start businesses and build new premises. Remove rules that keep new competitors out.
Driving investment away will not help with ‘Fixing the basics and building the future’ or deliver on ‘Better starts now’. It will not create prosperity ‘For all of us’. Leaving New Zealanders with fewer jobs and opportunities is hardly ‘Putting New Zealand First’.
New Zealand needs a credible plan to return the budget to surplus. That means bringing government spending below its income. We cannot rely on an economic recovery to close the gap. We must also prepare for the rising cost of healthcare and pensions as our population ages.
Prepare the country for a more dangerous world, with credible defence and strong trade and security partnerships. Give the next generation an education that prepares them for work and life. Deliver reliable transport, water and energy infrastructure, with clear priorities and better value for taxpayers.
We are ready to work with any government on these tasks. Respecting people’s rights would give that work a sound foundation and New Zealanders greater confidence in their future.
Signed
Paul Baines
Simon Bennett, Chairman, Accordant and Managing Director, Metroglass
Jason Boyes, CEO, Infratil
Tony Carter CNZM, Company Director
Mary Devine, CEO, Foodstuffs South Island
Mark Dunphy, Chair, Greymouth Petroleum
Trevor Farmer, Director, Tappenden Holdings
Daniel Foggo, Founder and Director, Plenti Group
Dame Jenny Gibbs DNZM, Philanthropist
Damien Grant
Marcel Gray, Board Chair, Foodstuffs South Island
Ross Green, Company Director
John Harman, Executive Director & Owner, Lightforce Solar
Dr Oliver Hartwich, Executive Director, The New Zealand Initiative
Glenn Hawkins, Chair, Avanti Finance
Rob Hennin, Professional Director
Jimmy Higgins, CEO, Suncorp New Zealand
Mark Honeybone, Director and Owner, Harcourts Property Ventures
Colin Hurst, National President, Federated Farmers of New Zealand
Desleigh Jameson, Managing Director, Gubb & Hardy
Stephen Jennings, Founder and CEO, Rendeavour
Murray Jordan, Company Director
John Judge, Independent Director
Andrew Krukziener, Krukziener Properties
Aaron Leech, New Zealand General Manager, Robt. Jones Holdings
Sir Christopher Mace KNZM
David Mair, Managing Director, Sanford
Doug McKay ONZM, Chair, Vector
Trish McLean, Executive Director, RWR Group
Sir Robert A McLeod KNZM, Director
Nick Mowbray, Co-Founder and CEO, ZURU
Sir Ralph Norris KNZM, Company Director
Tim Palin, Partner, Frequency
Roger Partridge, Chair, The New Zealand Initiative
Neil Paviour-Smith, CEO, Forsyth Barr
Chris Quin, CEO, Foodstuffs North Island
Graham Rich, Managing Partner & Dean, Portfolio Construction Forum
Matt Riley, Executive Director
Murray Robertson, Managing Director New Zealand, Downer
Mark Rushworth, CEO, UP Education
Prof Christoph Schumacher, Professor in Innovation and Economics, Massey University
Peter Schuyt, Company Director
David Sena, Founder and CEO, 2 Cheap Cars
Trish Sherson, Director, Sherson Willis
Ryan Smuts, Company Director
Scott St John, Company Director
Mark Synnott, Executive Chairman, Colliers New Zealand
John-Daniel Trask, Co-Founder and CEO, Raygun and Autohive
Jacques Venter, Executive Director
Antonia Watson
Dr Bryce Wilkinson ONZM, Director, Capital Economics
The open letter will be available at www.nzinitiative.org.nz from 5:00am on Wednesday 23 September.
ENDS
Dr Oliver Hartwich, who organised the letter, is available for comment. To schedule an interview, please contact:
Jamuel Enriquez, Marketing and Communications Manager
E: jamuel.enriquez@nzinitiative.org.nz
P: 021 022 34451
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About The New Zealand Initiative
The New Zealand Initiative is an evidence-based think tank and research institute contributing to public policy discussion.
Supported by the nation’s leading visionaries, business leaders and political thinkers, we are committed to making New Zealand a better country for all its citizens with a world-class education system, affordable housing, a healthy environment, sound public finances and a stable currency.
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