Jacinda Ardern and Grant Robertson have received savage report cards from New Zealand's business sector in a survey that dates back two decades.
The annual NZ Herald Mood of the Boardroom survey of more than 100 business directors and chief executives showed Ardern's overall performance as Prime Minister was 2.54/10 - down from 3.03 last year.
Bosses also gave Ardern just a 1.61/5 for building confidence within the business community.
Opposition leader Christopher Luxon received an overall rating of 3.24/5. That compared to the 2.06 rating former National Party leader Judith Collins received in last year's survey.
Finance Minister Grant Robertson was rated 2.98/5, down from the 4.18 approval rating he received in 2020. He was rated second-highest in the Government behind Climate Change Minister James Shaw.
Seven percent of respondents gave Robertson a 5/5 and another 30 percent rated him 4.
Meanwhile, 73 percent of respondents thought National's Nicola Willis would be a credible Finance Minister.
Robertson and Willis both spoke at an event launching the survey on Friday morning. The results showed "what a tough time 2022 has been for many New Zealanders and around the world", Robertson said.
In the survey, the Government's execution and delivery of policies were given a 1.63/5.
Ardern's administration was "the worst Government since Muldoon", a chief executive said in the NZ Herald survey.
Robertson last week said there was a "case for optimism" when looking at the future of the New Zealand economy. While he said global issues - like supply chain disruptions and the Ukraine war - had impacts in New Zealand, the country's economy was well-positioned.
"We are a country that is in demand, even more so following our people-first COVID response," the minister said. "Our goods exports are near record highs, because, even though the global economy is struggling, what we offer to the world is something the world needs."
Although inflation is at a 30-year high, the Government's pointed towards near-record-low unemployment and recent GDP growth as indicators the economy is doing well.
Robertson on attack
At the survey launch on Friday, Robertson attacked National over its fiscal policies.
National wants to increase tax brackets to meet inflation and stop low-medium income earners from being trapped in higher brackets - which would see Luxon himself pocket an extra $18,000 in income tax reduction if he became Prime Minister.
"One of the things I've heard consistently from this audience over the years is the importance of investment in infrastructure," Robertson said. "We've got $60 billion worth of infrastructure investment going out over the next five years.
"Is National going to be able to keep doing that level of investment with the kind of fiscal approach that Nicola Willis has outlined? I don't think they can."
However, the survey showed only 2 percent of respondents didn't support the National Party's tax policy, compared to 42 percent who fully supported it with 41 percent reasonably supporting it.
Willis targets Govt over 'basics'
National's deputy leader Willis said despite global economic challenges, "we may not be able to control the sea in which we are sailing, but we can steer the boat".
"Our contention on the Opposition benches is that, in fact, the scale of global challenges is that now, more than ever, there is a need a need for Government to get the basics right."
Willis assured business leaders National would continue to invest in core infrastructure if elected.
"The difference is we will not be relaxed about failing to get results for that expenditure."
