‘Business confidence’ is a myth.

The howls chime perfectly with the leader of the Opposition's apparent longing for 'a winter of discontent'. Together they would have us believe their politically inspired feelings will tank the economy and undermine everything.

But it's a myth. Business confidence is just a one-sided opinion poll of a handful of very wealthy people.

Don't get me wrong, amidst the scaremongering, I believe that some owners, particularly of small to medium enterprises, genuinely don't yet appreciate how reining in low-wage competition and growing a strong, healthy New Zealand workforce also protects their business.

But, the bulk of the changes being considered are just returning to the way things were before the last Government. And that was a period that was both good for workers and good for business.

Of course the views of business leaders do matter - exactly as much as the views of everyone else.

Faced with serious issues like gender inequality, the desperate need for good regional jobs, and affordable homes for families, it is important all New Zealanders have confidence the Government can get the job done.

Thankfully, our current political leadership is not naïve to the fact that the only opinion poll that matters is the next general election– and no matter how much anyone spends on expensive lobbying campaigns, we all get one vote each.

Despite the shrill cries to the contrary, real economic indicators are pretty rosy.

The chief executive of Business New Zealand Kirk Hope rightly said in late June that "business perception is not currently matching reality." He lists half a dozen reasons in his own words why business should be "feeling confident".

In fact the CTU has systematically compared business confidence surveys and real economic activity in our latest economic bulletin.

It reveals an alarming lack of correlation between the real world of investment and growth, and the confidence of business leaders who fill out these surveys.