1. Form Nzinc to emulate the success of Singapore by running the SOE’s as a portfolio owned by a commercial owner such as Macquarie, Temasek or Fletchers, leverage their values, buying and selling power, chase enterprise values and wealth, not just EBIT, have a really good overall advisory board and incentivise them, no more jobs for the boys. Buy back worthwhile former SOEs.
2. Create an ownership society at all levels starting at the top.
-SOEs owned 65% govt, 5% key directors, 5% staff, 25% public, NZ citizens only
-Use SOE wealth to fund buy up of retiring successful NZ enterprises so owners can have the
3B’s (boat, bach and BMW) but have same ownership as above, 65% govt, 5% former owner, 5% staff, 25% NZ citizens only. Don’t pick winners, buy them!
-At lower levels encourage state house tenants into ownership via good behaviour rewards, lawnmower at end of year 1, to 5% deposit at year 5.
3. At worker levels encourage worker ownership, say via plant to rehire to company
Change attitude to tax. Consider taxpayer as joint partner in which IRD have 39% shareholding, work with taxpayer to increase profits and hence tax paid, stop attitude of IRD as police, taxpayer as thief. Treat taxes with the respect that the guy who earned them did.
4. Replace Transpower chair as example that rewards will follow good results and sanctions will follow bad.
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