Annual Review 2022

2022 ANNUAL REVIEW

THE TRUST

PURPOSE AND OBJECTIVES

The New Zealand Business & Parliament Trust was formed in 1991 to bridge a perceived gap of understanding between Members of Parliament and the business community.

The Trust is a non-partisan educational charity, it is not a lobbying organisation.

The main objectives of the Trust are:

• to enable Members of Parliament to widen their experience in and increase their knowledge of business;

• to improve the understanding of the Trust’s Corporate members of how government is exercised through Parliament.

These objectives are met through the provision of various means including, Parliamentary Study Programmes (for Corporate members) and Business Study Programme attachments (for Members of Parliament).

GOVERNANCE

The Trustee Council comprises the Prime Minister, the Leader of the Opposition, and the leaders or representatives of the other Parliamentary parties. The 52nd Parliament has five parties represented with the Labour party (Government) and the National Party (Opposition) entitled to two representative each. There are six Corporate members elected by the Corporate membership.

A Trust Board of up to five Corporate representatives (seconded from the Trustee Council) and up to three Parliamentary representatives, also drawn from the Trustee Council, exercises the legal functions and obligations of the Trust.

The Speaker of the House of Representatives acts as President of the Trust.

The Chairman is a Corporate representative.

MEMBERSHIP

Corporate Membership of the Trust is open to companies and organisations that have the necessary structure to provide Members of Parliament with meaningful study programmes.

Associate Membership is open to those Members of Parliament who have successfully completed a Business Study Programme attachment with one of the Trust’s Corporate members.

The Trust is financed by subscriptions paid by its Corporate members.

PRESIDENT’S MESSAGE

Following my election as the 31st Speaker of the House of Representatives, I was honoured to accept the Trust Board’s invitation to become President of the Trust. I will endeavour to uphold the mana and ngā kaupapa set by all of my predecessors.

I was pleased to open three parliamentary seminars in September and November respectively. The Trust’s seminars, while intensive, are insightful providing a very realistic picture of how Parliament works and how government is exercised through Parliament.

It was a pleasure to host my first President’s dinner in October and to welcome the Chief Executives of New Zealand Aluminium Smelter and TVNZ Ltd along with senior leadership team representatives from ASB Bank, Contact Energy, Kiwi Property Group and Pāmu Farms to Parliament. The sharing of information with our parliamentary colleagues and learning about each other ensures the Trust’s mission and purpose remains current and valued.

It is also pleasing to see a small group of Members of Parliament undertaking Business Attachments with corporate members. The Business Attachment programme gives Members the unique opportunity to learn about the corporate world and the impact that political decisions may have on businesses.

I acknowledge the Trust’s charitable objectives in the area of education and for making financial provision in the form of small grants to enable schools from throughout Aotearoa

New Zealand, specifically our provincial based and rural schools, to undertake visits to Wellington and participate in the education programmes managed by the Parliamentary Service.

In my previous role as Deputy Speaker, I was pleased to be a part of the event at which the winners of the Trust’s sponsored competition for Youth Parliament 2022 were announced and presented. I am delighted that the Trust supports parliamentary engagement involving young people.

As your new President, I look back on the reasons behind the Trust being founded and the inspired vision of the people who promoted the idea and the coming together of the business community and parliamentarians in making the vision a reality. I look forward to learning more about the corporate members, their businesses and meeting members at Trust events.

Rt Hon Adrian Rurawhe MP Speaker

CHAIRMAN’S MESSAGE

I am pleased to present to you the Annual Report of the New Zealand Business and Parliament Trust for the 2022 financial year. As a consequence of the ongoing effects of COVID the Trust recorded a modest loss for the year in review. The Trust accounts show we remain in a strong position with solid reserves.

I wish to warmly acknowledge the contribution and support of the Rt Hon Trevor Mallard, Speaker of the House of Representatives and President of our Trust from November

2017 to August 2022. His commitment to our seminar programme was impressive and I know that attendees valued hearing from him first-hand about his role as Speaker and parliamentarian.

His support of the Trust was extensive from permitting our presence within the Parliamentary precinct to making his apartment available to us for all kinds of events has been greatly appreciated by the Board and our membership. We wish him every success in the future.

CHAIRMAN’S MESSAGE CONTINUED

In September, we welcomed the Rt Hon Adrian Rurawhe MP as the 31st Speaker of the House of Representatives as our new President. It is pleasing that he has very quickly become actively involved in supporting the Trust. We look forward to further developing a good working relationship with our new President.

Trust Operations

While the post COVID environment initially impacted on our plans, we were able to reschedule our full programme to the second half of the year. We were able to deliver four seminars, two President’s dinners and a new corporate network event in Auckland. We are pleased to be back to “normal” now engaging with members and providing our key programmes.

During the year, a number of Members of Parliament were able to undertake Business Attachments. I wish to thank Downer NZ Ltd, Foodstuffs South Island Ltd, Ports of Auckland and Deloitte Ltd for generously hosting these.

Our education funding programmes were maintained, awarding students from the four Universities Trust prizes for their studies in politics. However school visits to Parliament, while on the increase are not yet back to preCOVID levels, hence we did not expend the full budget set aside for the Travel Assistance Fund for School Visits to Parliament programme.

The Trust also sponsored a competition in association with the triennial Youth Parliament. The calibre of the entries received were exceptional, and the close results saw an additional category of prize applied.

Trustee Council and Board

There have been a number of changes in the composition of the Council and the Board. At the Annual Meeting in August, Chris Litchfield, Chief Executive of Coco Cola Europartners Ltd and myself were re-elected for a further three-year term and I acknowledge his willingness to support the Trust and its Board.

We received with regret the resignation of Catherine Soper (Genesis Energy) from the Trustee Council and wish her well in her new life and career in Singapore. We were delighted to welcome the appointment of Chris Blenkiron, Chief Executive and General Manager, Rio Tinto to the Trustee Council.

In October we received the unexpected resignation of Nancy McConnell from the Board and Trustee Council.

The Board acknowledges and warmly thanks Nancy for her ten years of dedicated service and support to the Trust. As Deputy Chair she has represented the Trust on many occasions, hosting parliamentary seminars, President’s

dinners and also as a judge for the last two Youth Parliament competitions. Nancy has fulfilled all these duties and roles with the upmost professionalism and in so doing has provided an excellent public face for our organisation.

Our new Trust Deed makes provision to acknowledge outstanding service by a corporate or individual to the mission of the Trust. The Board at their final meeting of the year, resolved to appoint Nancy as the inaugural Distinguished Life Member (individual).

In December, the Board approved the appointment of Helene Toury, GM Corporate Affairs & Marketing with Downer NZ Ltd as Nancy’s successor.

Corporate Membership

We were pleased to welcome Manawa Energy Ltd in the middle of the year and we trust that they will find their membership beneficial.

Acknowledgements

The contribution our Corporate members make to the Trust and its activities is important and your on-going support in these challenging times is highly valued.

I wish to record the Board’s appreciation of those Ministers, parliamentarians, staff of the Cabinet Office, Ministerial offices, Office of the Clerk, the Labour Leader’s Office, the Parliamentary Press Gallery and Government departments and ministries, who gave freely of their time to speak at one of our two seminars. Our corporate attendees gain so much from these presentations leading to a more in dept understanding of how Parliament and the Executive work.

My thanks also to our two Presidents the Rt Hon Trevor Mallard MP and the Rt Hon Adrian Rurawhe MP, as 30th and 31st Speakers of the House of Representatives respectively, in ensuring our continued presence in the Parliamentary complex and for allowing the Trust to meet its mission and purpose.

I acknowledge with gratitude, my colleagues on the Trust Board for their valued input and support.

To the Trust Secretariat, thank you for your efforts in continuing to manage a changing environment with flexibility over the past year.

Peter Griffiths Chairman

CHIEF EXECUTIVE’S REPORT

I am pleased to provide the 31st review of the business and activities of the Trust to the year ending 31 December 2022.

OVERVIEW

COVID-19 continued to impact on the Trust’s operations in respect of the delivery of its parliamentary seminars and other MP and Corporate related activities.

This resulted in postponing the programme for the first half of the year. In the second half, June to December, we delivered four parliamentary seminars, a members networking event and two President’s dinners.

The Occupation at Parliament in February also impacted on the Trust when the Secretariat was unable to access its office for close on two weeks.

We were able to finally hold the Auckland corporate network event in September. The event was co-hosted with the ANZ Bank and held at the Pavilion, ANZ Centre.

This was an exciting and successful new development for the Trust as historically all members’ events have been Parliament based.

TRUST MEMBERSHIP NEW CORPORATE MEMBERS

The Trust’s corporate membership at 1 January 2022 was 69 and closed on 31 December 2022 with 65 members.

We were pleased to welcome Manawa Energy Ltd as a new corporate member.

Imperial Brands resigned in March following a company restructure. The resignations of two of our foundation members, Air New Zealand Ltd and the Todd Corporation were deeply disappointing. Barfoot Thompson and Johnson & Johnson NZ Ltd also elected not to renew their memberships. All four resignations took effect from 31 December 2022.

ASSOCIATE MEMBERS

Five Members of Parliament became Associate Members following the successful completion of Business Attachment Programmes:

Simon Watts MP

Greg O’Connor MP

Rachel Brooking MP

Brooke van Velden MP

Naisi Chen MP

At the conclusion of 2022 the Trust had 44 Associate Members.

Simon Watts MP with WSP representatives and the CE

2022 ANNUAL GENERAL MEETING

The Trust’s 30th Annual General Meeting was held at Parliament on 24 August 2022. Corporate and associate members were given the choice of attending either in person or via Zoom.

The annual meeting coincided with the day the election of the new Speaker and so the office of President had become vacant on the resignation of the Rt Hon Trevor Mallard MP, the previous day. Peter Griffiths chaired the meeting.

The meeting ratified changes to the corporate membership of the Trustee Council and Board as outlined in the Chairman’s message, adopted the Annual Report and the new Trust Deed.

The meeting formally noted the resignation of longstanding Board member Greta Stephens following her relocation to a new role in Australia with Bluescope. The resignation of Catherine Soper (Genesis Energy Ltd) from the Trustee Council was received following her announced relocation to Singapore.

Peter Griffiths, Chair of Metro Performance Glass Board and Chris Litchfield, Chief Executive, Coco Cola Europacific Partners NZ Ltd were re-elected for a further term of three years. Chris Blenkiron, Chief Executive, Rio Tinto (NZAS) was appointed to the Trustee Council for a term of three years.

Greg O’Connor receives his Associate Members certificate at the Annual Meeting

Wallis Dumper (Subaru), Ben Cunliffe (Fonterra Co-operative Group) and Bryce Davies (IAG) with Shanan Mc Keown Director and Laura Banner of Munro Benge, Accountants to the Trust

Greg O’Connor MP, Deputy Speaker of the House of Representatives was presented with his Associate Members’ certificate. He had successfully undertaken an Attachment with Downer NZ Ltd in February

PROGRAMMES

TRUSTEE BOARD MEMBERSHIP

Joanne Mahon, Chief Communications & Brand Officer, Southern Cross and member of the Trustee Council was seconded to the Board to fill the vacancy created by the resignation of Gretta Stephens.

In October our Deputy Chair, Nancy McConnell resigned from the Board and Trustee Council after some ten years with the Trust.

At the December Board meeting, Chris Blenkiron (Rio Tinto) a member of the Trustee Council and Helene Toury (Downer NZ Ltd were appointed to the Board to fill an existing vacancy and to ensure that a corporate quorum could be maintained. Both members will take up their appointments in early 2023.

BUSINESS ATTACHMENT PROGRAMMES

PARLIAMENTARY SEMINARS

Four seminars were arranged. Two Exercising Government through Parliament seminars were held on 10 August and 9 November and two Machinery of Government seminars held on 21 September and 16 November.

A total of 39 corporates sent staff to the seminars. 105 attendees plus 4 university prize winners and two Templeton scholars participated.

A full list of attendees is given at Appendix 2.

SAMPLE OF THE COMMENTS RECEIVED FROM ATTENDEES AT THIS YEAR’S PARLIAMENTARY SEMINARS WERE...

Greg O’Connor MP Downer NZ Ltd

Rachel Brooking MP Foodstuffs (South Island) Ltd

Naisi Chen MP Deloitte Ltd

4 Members of Parliament undertook and completed their Business Attachment programmes. We warmly acknowledge and thank the above companies for agreeing to host Members of Parliament.

“Very informative and helpful. Particularly appreciated the Chair’s insights on how we (as businesses) can participate in the process.”

“A very informative day. All the speakers offered something different adding to my knowledge of how Parliament works and giving me an even greater appreciation of how hard everyone works and what they’re aiming to achieve.”

“Hugely beneficial session which oddly, has helped to energise my work and really boost my understanding of Parliament and Government.”

“I thought the seminar had great diversity across many roles within Parliament.”

“Thank you for the opportunity to visit Parliament, interact with those who work within Parliament and to see how it works - really insightful engaging day.”

Brooke van Velden MP Ports of Auckland

“These seminars are a big credit to the Trust and a great service to business - well done.”

“A brilliant and insightful deep dive into the machinery of government provided by skilful and experienced public servants. Made me proud of New Zealand’s democracy.”

SEMINAR SPEAKERS

The Trust is fortunate to be able to call on a wide range of parliamentarians and officials with in depth knowledge on the workings of Parliament and Government. A full list of our presenters is given at Appendix 3.

MACHINERY OF GOVERNMENTTAKING A CLOSER LOOK SEMINAR ATTENDEES

Our Machinery of Government seminar speakers comprise people at the ‘coalface’ and who are there to help Members of Parliament in all facets of their worklegislation, policy, electorate.

PARLIAMENTARY SEMINAR NETWORKING

Members of Parliament join corporate attendees at Seminar lunch.

Hon Dr Deborah Russell, Board member - Seminar 1

Lunch - Seminar 2

Shane Halbert MP with seminar attendees

AUCKLAND CORPRATE NETWORK EVENT

The inaugural Auckland Corporate Network event was held on 5 September at the ANZ Centre. It gave the Trust the perfect opportunity to meet face to face with Company Heads and Liaison officers and to reconnect with seminar attendees over the past two years.

We also took the opportunity to acknowledge the second recipient of our prize in politics at the University of Auckland. The Trust acknowledges ANZ Bank for their generous sponsorship and in particular Andrew Gaulkrodger, our liaison officer with the Bank.

Honouring Sophie Li, 2021 Prize winner in politics University of Auckland

PRESIDENT’S DINNERS

Our first President’s dinner since 2019 and the last one for outgoing President Rt Hon Trevor Mallard MP was held on 22 June.

At our first dinner we welcomed the Chief Executives of Fujitsu New Zealand Ltd, Ports of Auckland Ltd, Silvereye Communications Ltd, Synlait Milk Ltd and Tower Insurance Ltd and senior leadership team representatives from Rio Tinto and WSP.

The Hon Michael Wood, Minister of Immigration represented the Government.

At our second dinner, hosted by the Rt Hon Adrian Rurawhe MP, we welcomed the Chief Executives of New Zealand Aluminium Smelters and TVNZ Ltd along with senior leadership team representatives from ASB Bank, Contact Energy, Kiwi Property Group and Pāmu Farms.

Brooke van Velden MP, Deputy Leader ACT Party and the Hon Paul Goldsmith MP, Shadow Justice, Workplace Relations and Regulatory Reform spokesperson, represented the National Party.

Our second dinner was the first for new the Speaker Rt Hon Adrian Rurawhe MP and the last Trust engagement for outgoing Deputy Chair, Nancy McConnell.

Campbell Hodgetts, Darryl Stevens, Hon Paul Goldsmith MP, Steve McJarrow, Chris Abbott, Nancy McConnell, Sam Kelly, Simon Power, Rt Hon Adrian Rurawhe MP, Brooke van Velden MP and Chris Blenkiron

Chris Blenkiron, Trustee and Board member in conversation with Nancy McConnell, Deputy Chair

Rt Hon Adrian Rurawhe MP and Nancy McConnell

Back row L to R: Darryl Stevens, Rt Hon Trevor Mallard MP, Rob Pudy, Roger Gray, Peter Griffiths, Blair Turnbull. Front row: Hon Michael Wood, Jo Coughlan, Jen Nolan and Wendy Turvey Roger Gray (Ports of Auckland) Rob Purdy (Fujitsu) Jo Coughlan (Silvereye Communications – back to the camera) in conversation with Peter Griffiths

EDUCATION

PRIZES IN POLITICS

Our partnership with the University of Canterbury continues with the University naming Georgina Fulton as its 2021-2022 Prize recipient.

The University of Otago selected Ms Marewa Taiepa Shields as the third Prize recipient. Marewa completed a BA in Politics and Economics in 2021 and is now enrolled in a Master of Politics.

Susanna Barthow, University of Waikato, enrolled in the Master of Social Science in Public Policy, was awarded the Trust’s 2022 Prize.

The University of Auckland has named Logan Rainey as its 2022 Prize recipient. Logan completed a Bachelor of Arts majoring in Economics and Politics and then spent 2022 studying for his Master of Public Policy.

As a result of COVID impacting on our parliamentary seminars in 2020 and 2021, this year provided the first opportunity to meet and host all four prize recipients at the parliamentary seminars.

TRAVEL FUND ASSISTANCE FOR SCHOOL VISITS TO PARLIAMENT

The Trust provides small grants to schools undertaking one of the recognised education programmes managed by the Parliamentary Service Education team.

The number of school applications for financial assistance have yet to return to pre COVID application numbers.

This year we have been pleased to approve grants for 30 schools which benefited a total of 620 students and 43 parents / caregivers.

A full list of those schools receiving grants from the Trust are listed at Appendix 4.

Matthew O’Connor University of Otago prize winner

Daniel Mason Waikato University prize winner

Terewai Irwin - University of Canterbury prize winner

YOUTH PARLIAMENT

The Trust has been proudly associated with the triennial Youth Parliament since its inception in 1997. That tradition continued in 2022 with the Trust sponsoring a competition for the tenth New Zealand Youth Parliament.

Participants had a choice of two topics they could either write an essay on, deliver a speech or make a video.

“Do you think that New Zealand’s Parliament has too little, too much or just the right amount of power? Explain your answer”.

“Identify a key issue currently facing our country and tell us how Parliament and the business community could partner together to devise a roadmap to achieve change on this issue”.

The judging panel comprised Nancy McConnell, Deputy Board Chair and Strategic Adviser, Hawkins Ltd, Chris Litchfield, Chief Executive Officer, Coco Cola Europacific Partners plc and Karan Kalsi, former Youth MP and winner of the 2016 competition.

The Trust awarded a monetary prize of $2,500 to the winner, The first and second runners-up each received monetary prizes of $2,000. A monetary prize of $1,000 was set aside for the third runner-up which was shared.

The Trust warmly congratulates:

Keelan Heesterman

(Youth MP representing Anna Lorck, MP for Tukituki) Winner of the 2022 Youth Parliament Competition.

The Trust also congratulates the runners-up:

Gryffin Powell. Member of the Youth Press Gallery. 1st Runner-up.

Will Irvine. Youth MP representing Rachel Boyack, MP for Nelson. 2nd Runner-up.

Matteo Zhang. Member of the Youth Press Gallery. Joint 3rd Runner-up.

Meghana Gaddam. Youth MP representing Tim van de Molen, MP for Waikato. Joint 3rd Runner-up.

Danica Loulie Wijtenburg. Youth Clerk. Highly Commended.

Nancy McConnell congratulates Keelan Heesterman, 2022 winner

Karim Kalsi, Nancy McConnell, The Speaker and the Hon Priyanca Radhakrishnan, Minister for Youth

Darryl Stevens, Karan Kalsi, Will Irvine (2nd runner-up), Nancy McConnell, Rt Hon Adrian Rurawhe MP, Hon Priyanca Radhakrishnan Minister for Youth

Keelan Heesterman 2022 Winner

SECRETARIAT

TRUST DEED

The new Trust Deed was ratified at the Annual Meeting in August. We acknowledge Russell McVeagh for all their assistance in achieving a successful review outcome and ensuring the Trust Deed remains fit for purpose.

STAFF

COMMS & Social Media Assistant Oliver (Oli) Malthus resigned in May to take on a full-time role with the Suzanne Borrin Foundation.

In July, Trinita Sampurno, a third-year student studying a Bachelor of Communication degree at Massey University joined us the COMMS Intern.

THANK YOU

Firstly, I wish to acknowledge both Speakers of the House of Representatives, Ministers and Members of Parliament who generously undertake speaking engagements informing our corporate members on Parliament and government and those Parliamentarians who attend our parliamentary seminar lunches and network with corporate attendees. The Trust could not achieve its key purpose without your active support.

Second, I would like to record my thanks to the Speaker’s Office, Office of the Clerk, Cabinet Office, Parliamentary Press Gallery, ICON and the Parliamentary Service staff for their assistance and support. The Trust relies heavily on you all to help us achieve our mission.

EVENTS ASSISTANT

Judy Campbell was appointed to this role following the retirement of Tassie Wong.

SECRETARIAT OFFICE

The Trust was required to vacate at short notice its office on the top floor of the Parliamentary Library Building in order to accommodate Members of Parliament who were being moved from their offices in the Annexe. TThe Secretariat first moved temporarily to the Annexe for three months and then to a permanent office on the ground floor of the Parliamentary Library Building. We work in a heritage listed building and our current office is stepped in New Zealand’s political history. We feel both privileged and lucky.

Thank you too to our Corporate Liaison officers for promoting the parliamentary seminars to your company colleagues and coordinating nomination of staff wishing to attend.

Finally, personal thanks to my colleagues Vasoula Kappatos, Judy Campbell, Oli Malthus and Trinita Sampurno for their contribution to the work of the Trust during what turned out to be another challenging year. The Secretariat has continued to prove that it is robust and flexible in managing the ‘new normal.’

Darryl M Stevens MNZM Chief Executive

Trinita Sampurno, COMMS & Social Media Intern, Vasoula Kappatos EA and Judy Campbell who joined the Secretariat as Events Assistant Helene Toury, new Board member (Downer NZ Ltd)

2022 CALENDAR AND PROGRAMME OF EVENTS

Trust Board Meeting 1

Trust Board Meeting 2

Trust Board Meeting 3

Trust Board Meeting 4

Annual General Meeting

Parliamentary Seminar 1 - Exercising Government through Parliament

Parliamentary Seminar 2 - Machinery of Government and Parliament - Taking a Closer Look

Parliamentary Seminar 3 - Exercising Government through Parliament

Parliamentary Seminar 4 - Machinery of Government - Taking a Closer Look

President’s Dinner 1

President’s Dinner 2

Auckland Corporate Members Network Event

Youth Parliament Awards

APPENDIX 2

CORPORATE ATTENDEES

1 - 10 AUGUST

Sam Kelly ASB Bank

Areti Paulson Deloitte Ltd

James Shepherd Deloitte Ltd

Helene Toury Downer (NZ) Ltd

Robert Purdy Fujitsu NZ Ltd

Carmel Murphy Johnson & Johnson (NZ) Ltd

Lars Mueller KiwiRail

George Ninness KiwiRail

Meredith Fenwick Landcorp Farming

Simone Rosentreter Lion NZ

Chris Blenkiron New Zealand Aluminum Smelters

Josie McVitty Guardians of NZ Superannuation

Joe Halapua Guardians of NZ Superannuation

Jonathan Southlee Parliamentary Services

Julie Wagener Ports of Auckland Ltd

Ashley Donaldson Russell McVeagh

Sherryl Arneil Southern Cross

Brooke Hurndell Spark New Zealand Trading Ltd

Samantha Smith Spark New Zealand Trading Ltd

Stuart Barraclough Todd Corporation

Stephen Troughton Todd Corporation

Jonathan Beale Tower Insurance Ltd

Paul Johnston Tower Insurance Ltd

Diana Price Transpower New Zealand Ltd

Mark Ryall Transpower New Zealand Ltd

Russell Syme Westpac

Campbell Gardiner WSP New Zealand

Bridget McFlinn WSP New Zealand

CORPORATE ATTENDEES

SEMINAR 2 - 21 SEPTEMBER

Kylie Pennington Abbvie Ltd

Simon Howard ANZ New Zealand Ltd

Nick Flack ChCh International Airport Ltd

Kylie Frisby ChCh International Airport Ltd

Angela Denmoor Coca-Cola Europacific Partners NZ Ltd

Areti Paulson Deloitte Ltd

Damon Taylor Deloitte Ltd

Helene Toury Downer (NZ)

Megan Burke Downer (NZ)

Amy Wilkinson Johnson & Johnson (NZ) Limited

Teri van Halewyn University of Canterbury Prize winner

Matt Johnson Pāmu Farms of NZ

Simone Rosentreter Lion NZ

Jyoti Rauniyar MSD - Pharmaceuticals

Joe Halapua Guardians of NZ Superannuation

Althea Lovell Spark New Zealand Trading Ltd

Jordan Schuler The Warehouse Group

Simon Inder Todd Corporation

Samantha Barrington Todd Energy NZ

Prowse

Diana Price Transpower NZ Ltd

Nathan Green Transpower NZ Ltd

Sophia Li University of Auckland prize winner

Daniel Mason Waikato University prize winner

Campbell Gardiner WSP New Zealand

Jen Randal WSP New Zealand

Riria Morehu Templeton Scholar 2022

Felix Desmarais Templeton Scholar 2022

CORPORATE ATTENDEES

PARLIAMENTARY SEMINAR 3 - 9 NOVEMBER

Kylie Pennington Abbvie Ltd

Nick Flack ChCh International Airport Ltd

Clarke Truscott Coca-Cola Europacific Partners NZ

Amy Dove Deloitte

Shellee Wilson Deloitte

Kiriana Isgrove Fonterra Co-operative Group

Sarah Tuohy Foodstuffs NZ Ltd

Campbell Hodgetts Kiwi Property Group Ltd

Nick Russell Lion NZ

Ian Birch Lotto NZ

Fiona Wiseman Manawa Energy Ltd

Chris Ewers Meridian Energy Ltd

Kelly To Meridian Energy Ltd

Paul O’Sullivan MSD - Pharmaceuticals

CORPORATE ATTENDEES

PARLIAMENTARY SEMINAR 4 - 16 NOVEMBER

Clarke Truscott Coca-Cola Europacific Partners NZ Ltd

Amy Dove Deloitte Ltd

Grace Gollan Deloitte Ltd

Kiriana Isgrove Fonterra Co-operative Group

Sarah Tuohy Foodstuffs NZ

Emma Holloway Genesis Energy Ltd

Mike Gimblett Goodman NZ Ltd

Campbell Hodgetts Kiwi Property Group Ltd

Jamie Campbell Pāmu Farms of NZ

Peter Franklin Pāmu Farms of NZ

Nick Russell Lion NZ

Tim Austen Meridian Energy Ltd

PARLIAMENTARY SEMINAR SPEAKERS FOR 2022

EXERCISING GOVERNMENT THROUGH PARLIAMENT SPEAKERS

Rt Hon Trevor Mallard MP

Rt Hon Adrian Rurwahe MP

David Wilson

Dr Duncan Webb MP

Chris Penk MP

Hon Scott Simpson MP

Melissa Lee MP

Christopher Luxon MP

Nicola Willis MP

Hon Andrew Little

Claire Trevett

Amelia Wade

Jamie Strange MP

Maureen Pugh MP

David Seymour MP

Dr Gaurav Sharma MP

Angela Roberts MP

Jyoti Rauniyar MSD - Pharmaceuticals

George Crosby Guardians of NZ Superannuation

Paula Steed Guardians of NZ Superannuation

Aubrey Xu Silvereye Communication

Graeme Muir SkyCity Entertainment Group

David Simpson Southern Cross Healthcare

Kim Hutton Spark New Zealand Trading Ltd

Jordan Schuler The Warehouse Group

Steve Wilson Tower Insurance Ltd

Lauren Graves Tower Insurance Ltd

Nathan Green Transpower NZ Ltd

Matthew O’Connor University of Otago prize winner

Verity Judge Willis Bond & Co Ltd

Steph Bidois Willis Bond & Co Ltd

George Crosby Guardians of NZ Superannuation

Paula Steed Guardians of NZ Superannuation

Rangi Solomon PowerNet Ltd

Geoff Thorburn PowerNet Ltd

Ashley Donaldson Russell McVeagh

Aubrey Xu Silvereye Communications Ltd

Graeme Muir SkyCity Entertainment Group

Kim Hutton Spark NZ Trading Ltd

Lee Anne van Winkel Hato Hone St John

Lauren Yeo Todd Corporation

Nick Owens Willis Bond & Co Ltd

Lachlan McGuinness Willis Bond & Co Ltd

Speaker of the House of Representatives

Speaker of the House of Representatives

Clerk of the House

Chief Government Whip

Senior Opposition Whip

Member for Coromandel, National Party

List Member, National Party

Leader of the Opposition / Leader of the National Party and Member for Botany

Deputy Leader, National Party

Minister of Health

Parliamentary Press Gallery

Parliamentary Press Gallery

Member for Hamilton East, Labour Party

List Member, National Party

Leader ACT Party & Member for Epsom

Member for Hamilton West, Labour Party

List Member, Labour Party

APPENDIX 3 CONTINUED

APPENDIX 4

THE FOLLOWING IS A LIST OF SCHOOLS WHO WERE FUNDED THROUGH THE TRUST AND ABLE TO UNDERTAKE

PRIZE WINNERS ALUMNI 2018 - PRESENT DAY

UNIVERSITY OF AUCKLAND

Kiri Picard [inaugural] (2020)

Sophia Li (2021)

Logan Rainey (2022)

UNIVERSITY OF CANTERBURY

Jessica Kikstra (2019)

Eilish Espiner (2020)

Terewai (Teri) Irwin (2021)

Georgina Fulton (2022)

SCHOLARSHIP & PRIZE WINNERS ALUMNI 2010 - 2018

UNIVERSITY OF CANTERBURY SCHOLARSHIP WINNERS

Stella Smith (2016)

Mandy Stratford (2015)

Josephine Clarke (2014)

VICTORIA UNIVERSITY WELLINGTON- TE HERENGA WAKA SCHOLARSHIP WINNERS

Annie MacDonald (2018)

Samantha Arthur-Curtis (2016)

Annie Du (2015)

Dylon Chambers (2014)

Nicola Yong (2014)

Kirsten Mander (2011)

YOUTH PARLIAMENT COMPETITION WINNERS

UNIVERSITY OF OTAGO

James Heath [inaugural] (2020)

Matthew O’Connor (2021)

Marewa Taiepa Shields (2022)

UNIVERSITY OF WAIKATO

Pheobe Slee [inaugural] (2020)

David Mason (2021)

Susanna Barthow (2022)

VICTORIA UNIVERSITY WELLINGTON- TE HERENGA WAKA PRIZE WINNERS

Karishma Patel & Rebecca Evans (2018)

Holly Blackler & Emma Burge (2016)

Samantha Lassen & Caleb Dawson-Swale (2015)

Catherine Kan-Shaw and Nicola Yong (2014)

Alexis Harris & Natalie White (2013)

Laura de Haan & Mary Davies-Colley (2012

Jack Georgieff & Kirsten Mander (2011)

Eileen Moughan & Jessica Booker (2010)

PERFORMANCE REPORT

FOR THE YEAR ENDED 31 DECEMBER 2022

NEW ZEALAND BUSINESS AND PARLIAMENT TRUST ENTITY INFORMATION

FOR THE YEAR ENDED 31 DECEMBER 2022

LEGAL NAME OF ENTITY

TYPE OF ENTITY AND LEGAL BASIS

AUDITOR BANKER

SOLICITOR ACCOUNTANT

ENTITY’S PURPOSE OR MISSION

To advance and encourage understanding and goodwill between the business community of New Zealand and Parliamentarians.

ENTITY STRUCTURE

The New Zealand Business and Parliament Trust (“the trust”) is a Trust focused on supporting business, economic and educational activities in New Zealand.

It is also a registered charity.

The Trust is governed by a Board of Trustees comprising four members of the Trustee Council who are subscribing Corporate members of the Trust, and three members of the Trustee Council who are Members of Parliament.

The Trustee Council is composed of six subscribing corporate members and representatives from each of the political parties represented in the House of Representatives.

The Board meets four times per year and must also convene an Annual General Meeting.

The Trust’s operations are managed by a team of four part-time paid employees - the Chief Executive, an Executive Assistant (Programmes & Administration), a Communications and Social Media Assistant, and an Events Assistant.

New Zealand Business and Parliament Trust.

New Zealand Business and Parliament Trust is incorporated under the Charitable Trusts Act 1957 and is registered with the Charities Commission. The Registration Number is CC43956.

Moore Markhams Wellington Audit. Westpac New Zealand Limited.

Russell McVeagh. Munro Benge Chartered Accountants Limited.

NEW ZEALAND BUSINESS AND PARLIAMENT TRUST ENTITY INFORMATION

FOR THE YEAR ENDED 31 DECEMBER 2022

MAIN SOURCES OF THE ENTITY’S CASH AND RESOURCES

PHYSICAL ADDRESS

POSTAL ADDRESS

The New Zealand Business & Parliament Trust’s primary source of funding is through receipt of membership income. The Trust also receives interest income on bank balances held by it.

Parliament Buildings, 1 Molesworth Street, Wellington, 6011.

office@nzbpt.nz, Private Bag 18041, Parliament Buildings, Wellington, New Zealand, 6160.

NEW ZEALAND BUSINESS & PARLIAMENT TRUST STATEMENT OF SERVICE PERFORMANCE FOR THE YEAR ENDED 31 DECEMBER 2022

DESCRIPTION OF THE ENTITY’S OUTCOMES

The strategic objectives and outcomes of the New Zealand Business and Parliament Trust include:

advancing and encouraging understanding and goodwill between the business community of New Zealand and Parliamentarians;

widening the experience of Parliamentarians in their knowledge of the business community and improving the understanding within the business community of the issues facing Parliament;

advancing and encouraging public education or other charitable purposes beneficial to the community in connection with the work of Parliament.

PARLIAMENTARY SEMINARS (FOR CORPORATE MEMBERS)

Exercising Government through Parliament

Machinery of Government & Parliament

ACTIVITIES SPECIFIC TO MPS

BUSINESS STUDY PROGRAMME ATTACHMENTS (FOR MPS)

Attachments confirmed | offered

Attachments completed

Attachments cancelled | lapsed

Attachments still to be completed and / or deferred due to COVID Business Away Day Visit (for MPs)

ACTIVITIES OPEN TO CORPORATE MEMBERS, MINISTERS AND MPS

“Business Overview” events for Corporate members and MPs

“President’s Dinners” for CEOs and senior leadership team members of the Trust’s Corporate membership

^New Members’ Function

Number of parents | caregivers assisted

withdrawing applications

Number of School visits Cancelled - COVID-19

Number of Schools where grant payments were withheld - COVID-19

Number of Grants Refunded - COVID-19

STATEMENT OF FINANCIAL PERFORMANCE FOR THE YEAR ENDED 31 DECEMBER 2022

Revenue from providing goods or services

Interest, dividends and other investment revenue

The accompanying notes form part of this Performance Report. Please refer to the independent audit report. NEW ZEALAND BUSINESS & PARLIAMENT TRUST

NEW ZEALAND BUSINESS & PARLIAMENT TRUST

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2022

INCREASE (DECREASE) IN CASH

This statement has been prepared without conducting an audit or review engagement, and should be read in conjunction with the attached Compilation Report.

NEW ZEALAND BUSINESS & PARLIAMENT TRUST STATEMENT OF ACCOUNTING POLICIES FOR THE YEAR ENDED 31 DECEMBER 2022

‘How did we do our accounting?’

BASIS OF PREPARATION

The entity has elected to apply PBE SFR-A (NFP) Public Benefit Entity Simple Format Reporting - Accrual (Not-For-Profit) on the basis that it does not have public accountability and has total annual expenses equal to or less than $2,000,000.

All transactions in the Performance Report are reported using the accrual basis of accounting.

The Performance Report is prepared under the assumption that the entity will continue to operate in the foreseeable future.

REVENUE

Revenue is accounted for as follows:

Membership Fees

Fees and subscriptions receive in exchange or monthly access to member’s facilities are initially recorded as income in advance and recognised in revenue evenly over the membership period.

Interest and dividend income

Interest is recognised on an accrual basis.

GOODS AND SERVICES TAX (GST)

The entity is registered for GST. All amounts are stated exclusive of goods and services tax (GST) except for accounts payable and accounts receivable which are stated inclusive of GST.

INCOME TAX

NZ Business & Parliament Trust is wholly exempt from New Zealand income tax having fully complied with all statutory conditions for these exemptions.

PROPERTY, PLANT & EQUIPMENT

Property, plant and equipment are shown at cost or valuation less any accumulated depreciation and impairment loss.

Depreciation

Depreciation is provided on a straight-line basis on all property, plant and equipment, at rates that will write off the cost of the assets to their estimated residual values over their useful lives. The depreciation rates and useful lives associated with major classes of assets have been estimated as follows:

Office equipment : 5 years

Intangible Assets

The Trust has elected to adopt the Tier 2 standard PBE IPSAS 31 Intangible Assets in relation to the capitalisation of the costs incurred in the development of the website. Intangible assets acquired by the Trust, which finite useful lives, are measured at cost less accumulated amortisation and any impairment losses. Acquired website development costs are capitalised on the basis of the costs incurred to acquire and develop the website.

Amortisation

Intangible assets are amortised on a straight-line basis over the estimated useful life of the asset, from the date they are available for use and reported within the surplus or deficit for the year. The following amortisation rates have been applied:

Website : 20% SL

EMPLOYEE COSTS

Employee entitlements are measured at undiscounted nominal values based on accrued entitlements at current rates of pay.

These include annual leave earned but not taken at balance date.

The Trust recognises a liability and an expense for bonuses it is contractually obliged to pay, or where a past event has created a constructive obligation.

Bank accounts and cash in the Statement of Cash Flows comprise cash balances and bank balances (including short term deposits) with original maturities of 90 days or less.

BANK ACCOUNTS AND CASH INVESTMENTS

Investments are recorded at cost.

CHANGES IN ACCOUNTING POLICIES

There have been no changes in accounting policies. Policies have been applied on a consistent basis with those of the previous reporting period.

NEW ZEALAND BUSINESS & PARLIAMENT TRUST NOTES TO THE PERFORMANCE REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

NOTE 1 - ANALYSIS OF REVENUE

NOTE 2 - ANALYSIS OF EXPENSES

NEW ZEALAND BUSINESS & PARLIAMENT TRUST NOTES TO THE PERFORMANCE REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

NEW ZEALAND BUSINESS & PARLIAMENT TRUST NOTES TO THE PERFORMANCE REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

NOTE 7 - SIGNIFICANT DONATED ASSETS - NOT RECORDED

The Trust has not received any significant donated assets during the course of the year (2021: None)

NOTE 8 - COMMITMENTS AND CONTINGENCIES

There were no commitments or contingencies as at 31 December 2022 (2021: None)

The Trust Board agreed (and ratified at the AGM on 10 April 2013) that the Chairman would receive an honorarium of $15,000 per annum, if requested

The Chairman also receives $1,200 in Chairman’s disbursements, if requested

The other Trustees do not receive any funds

Key Management

INDEPENDENT AUDITOR’S REPORT

Audit

Moore Markhams Wellington Audit is a partnership of MK Rania and AJ Steel.

Moore Markhams independent member firms in New Zealand are in Auckland, Christchurch, Dunedin, Hawke’s Bay, Queenstown, Wairarapa, Wanganui, Waverley, Wellington.

Moore Markhams is a network of independent firms that are each members of Moore Global Network Limited. Member firms in principal cities throughout the world.

TO THE TRUSTEES OF NEW ZEALAND BUSINESS & PARLIAMENT TRUST OPINION

We have audited the accompanying performance report of New Zealand Business & Parliament Trust on pages 22 to 31, which comprises the entity information, the statement of service performance, the statement of financial performance and statement of cash flows for the year ended 31 December 2022, the statement of financial position as at 31 December 2022, and the statement of accounting policies and notes to the performance report.

In our opinion:

a) the reported outcomes and outputs, and quantification of the outputs to the extent practicable, in the statement of service performance are suitable

b) the accompanying performance report presents fairly, in all material respects:

• the entity information for the year then ended

• the service performance for the year then ended, and

• the financial position of New Zealand Business & Parliament Trust as at 31 December 2022, and its financial performance, and cash flows for the year then ended in accordance with Public Benefit Entity Simple Format Reporting - Accrual (Not-For-Profit) issued by the New Zealand Accounting Standards Board.

BASIS FOR OPINION

We conducted our audit of the statement of financial performance, statement of financial position, statement of cash flows, statement of accounting policies and notes to the performance report in accordance with International Standards on Auditing (New Zealand) (ISAs (NZ)), and the audit of the entity information and statement of service performance in accordance with the International Standard on Assurance Engagements (New Zealand) ISAE (NZ) 3000 (Revised). Our responsibilities under those standards are further described in the ‘Auditor’s responsibilities for the audit of the performance report’ section of our report.

We are independent of New Zealand Business & Parliament Trust in accordance with Professional and Ethical Standard 1 (Revised) ‘Code of ethics for assurance practitioners’ issued by the New Zealand Auditing and Assurance Standards Board, and we have fulfilled our other ethical responsibilities in accordance with these requirements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Other than our capacity as auditor we have no relationship with, or interests in, New Zealand Business & Parliament Trust.

OTHER MATTER

The performance report of New Zealand Business & Parliament Trust for the year ended 31 December 2021, were audited by another auditor who expressed an unmodified opinion on those statements on 21 June 2022.

INDEPENDENT AUDITOR’S REPORT

Audit

Moore Markhams Wellington Audit is a partnership of MK Rania and AJ Steel.

Moore Markhams independent member firms in New Zealand are in Auckland, Christchurch, Dunedin, Hawke’s Bay, Queenstown, Wairarapa, Wanganui, Waverley, Wellington.

Moore Markhams is a network of independent firms that are each members of Moore Global Network Limited. Member firms in principal cities throughout the world.

TRUSTEES RESPONSIBILITIES FOR THE PERFORMANCE REPORT

The ‘Trustees’ are responsible for:

a) Identifying outcomes and outputs, and quantifying the outputs to the extent practicable, that are relevant, reliable, comparable and understandable, to report in the statement of service performance

b) the preparation and fair presentation of the performance report on behalf of New Zealand Business & Parliament Trust which comprises:

• the entity information

• the statement of service performance; and

• the statement of financial performance, statement of financial position, statement of cash flows, statement of accounting policies and notes to the performance report in accordance with Public Benefit Entity Simple Format Reporting - Accrual (Not-For-Profit) issued by the New Zealand Accounting Standards Board, and

c) for such internal control as the Trustees determine is necessary to enable the preparation of the performance report that is free from material misstatement, whether due to fraud or error.

In preparing the performance report, the Trustees are responsible on behalf of New Zealand Business & Parliament Trust’s for assessing New Zealand Business & Parliament Trust’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate New Zealand Business & Parliament Trust or to cease operations, or have no realistic alternative but to do so.

AUDITOR’S RESPONSIBILITIES FOR THE AUDIT OF THE PERFORMANCE REPORT

Our objectives are to obtain reasonable assurance about whether the performance report is free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (NZ) and ISAE (NZ) 3000 (Revised) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the decisions of users taken on the basis of the performance report.

As part of an audit in accordance with ISAs (NZ) and ISAE (NZ) 3000 (Revised), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the performance report, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of New Zealand Business & Parliament Trust’s internal control.

INDEPENDENT AUDITOR’S REPORT

Audit

Moore Markhams Wellington Audit is a partnership of MK Rania and AJ Steel.

Moore Markhams independent member firms in New Zealand are in Auckland, Christchurch, Dunedin, Hawke’s Bay, Queenstown, Wairarapa, Wanganui, Waverley, Wellington.

Moore Markhams is a network of independent firms that are each members of Moore Global Network Limited. Member firms in principal cities throughout the world.

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.

• Conclude on the appropriateness of the use of the going concern basis of accounting by the Trustees and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on New Zealand Business & Parliament Trust’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the performance report or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause New Zealand Business & Parliament Trust to cease to continue as a going concern.

• Evaluate the overall presentation, structure and content of the performance report, including the disclosures, and whether the performance report represents the underlying transactions and events in a manner that achieves fair presentation.

• Perform procedures to obtain evidence about and evaluate whether the reported outcomes and outputs, and quantification of the outputs to the extent practicable, are relevant, reliable, comparable and understandable.

We communicate with the Trustees regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

This report is made solely to the Trustees of New Zealand Business & Parliament Trust. Our audit has been undertaken so that we might state to the Trustees those matters we are required to state to them in an auditors’ report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Trustees, for our audit work, for this report, or for the opinions we have formed.

Moore Markhams Wellington Audit | Qualified Auditors, Wellington, New Zealand 24 May 2023

NEW ZEALAND BUSINESS & PARLIAMENT TRUST DIRECTORY

Rt Hon Trevor Mallard MP

SPEAKER OF THE HOUSE OF REPRESENTATIVES (TO AUGUST}

TRUSTEE COUNCIL BOARD MEMBERS CHIEF EXECUTIVE

Rt Hon Jacinda Ardern

Chris Blenkiron (from AGM)

Peter Griffiths

Chris Litchfield

Christopher Luxon MP

Ricardo Menéndez March MP

Joanne Mahon

Dr Deborah Russell MP

Tim van de Molen MP

Brooke van Velden MP

Guy Waipara Darryl Stevens MNZM

CORPORATE MEMBERS ASSOCIATE MEMBERS (RETURNING TO THE 53RD PARLIAMENT) PRESIDENT EXECUTIVE ASSISTANT

MEDIA ASSISTANT