Zuru founder Nick Mowbray, Foodstuffs, Infratil and Sanford CEOs among 51 business leaders urging political parties to uphold property rights

Fifty-one New Zealand business leaders including multimillionaire Nick Mowbray and the chief executives of Foodstuffs, Infratil and Sanford have signed an open letter urging political parties to uphold private property rights and freedom of contract.

The letter, organised by free-market think tank the New Zealand Initiative, was written in response to campaign proposals across the political spectrum focused on structural break-ups in key sectors such as grocery, energy and banking.

The 51 signatories include chief executives, chairs and directors of companies in banking, construction, education, energy, farming, finance, fishing, grocery, insurance, manufacturing and property.

High-profile signatories include Zuru co-founder and chief executive Nick Mowbray, Infratil chief executive Jason Boyes, Federated Farmers of New Zealand national president Colin Hurst, and Foodstuffs North Island chief executive Chris Quin.

Other signatories include representatives from Forsyth Barr, Harcourts, Sanford, Vector, Downer, Colliers and Massey University.