A new political party formed by millionaire economist and philanthropist Gareth Morgan is unlikely to win votes from National, Prime Minister John Key says.
On Friday Dr Morgan announced the formation of The Opportunities Party, saying its policies will promote fairness, reduced poverty, housing affordability, environmental sustainability and national pride.
"He's very unlikely to win votes from us," Mr Key told reporters on Saturday.
If he wins any votes it will be from Labour and the Greens, Mr Key said after the launch of National's campaign for the Mt Roskill by-election.
The formation of the party showed Dr Morgan was "pretty dissatisfied" with what Labour and the Greens were saying and the way that they were performing, he said.
"There are plenty of people who have come to politics with quite a bit of cash and a big personality and haven't really got there.
"I think it's very unlikely he'd get above 5 percent," Mr Key said.
Though he could if Labour and the Greens imploded, he said.
"That's where he's target market will be," he said.
Labour and the Green Party have showed a unified front at the Labour Party's annual conference in Auckland this weekend, with no suggestion they're afraid of losing votes to Dr Morgan.
But Green co-leader James Shaw did quip "we quite like cats" when talking about the advantages of Labour-Greens co-operation, referencing a past campaign by Dr Morgan to eradicate domestic cats.
Dr Morgan announced his party in a Facebook post and later told reporters outside Parliament he intended breaking the stranglehold that career politicians had on New Zealand.
His first task is to sign up 500 paid-up members so the party can be registered.
He says he already has about 750 after passing 500 members within 24 hours of launching.
A list-only party, which is what Dr Morgan intends, has to gain five percent of the party vote in an election to get into Parliament.