Labour has released its economic plan to create growth and opportunity in every part of the country, with good jobs, a fair go for small businesses, and a new commitment to back Kiwi companies through Elevate.
“Kiwis deserve an economy where hard work gets you ahead,” Labour finance and economy spokesperson Barbara Edmonds said.
“Right now, too many people are working harder just to stand still. Wages aren’t keeping up, the weekly shop costs more, and small businesses are doing it tough.
“Three years on from National’s promise to get things moving, 171,000 Kiwis are out of work, business liquidations are at a 15-year high, and 2,000 people are leaving the country every week. National had its chance, and families are worse off for it.
"Labour has a plan to turn that around. We’ll get Kiwis back into work, back small and innovative businesses to succeed, and bring everyday costs under control.
“And we’ll do it responsibly. Every dollar the government spends is someone’s hard earned money. We’ll treat it that way, managing the books carefully and investing where it makes a difference,” Barbara Edmonds said.
Labour will:
Back innovative Kiwi companies by redirecting up to $50 million a year into Elevate
Make big businesses pay small suppliers within 15 days
Let small businesses claim new tools and equipment straight away, up to $10,000
Raise the GST threshold to $80,000, giving small businesses more room to grow
Give smaller Kiwi businesses a fairer chance to win government contracts
Help small businesses and start-ups use AI to save time and get ahead
Get Kiwis back into work fixing schools and hospitals and building homes
Back 30,000 apprentices with an expanded apprenticeship boost, introducing a $1,000 tools grant, and guarantee every eligible graduate nurse a job
Introduce a simple, targeted capital gains tax on investment and commercial property, with every dollar going to healthcare
Establish the New Zealand Future Fund to invest in Kiwi businesses and infrastructure
Return the books to surplus in 2028/29, bring back the Reserve Bank’s dual mandate, and set up an independent Parliamentary Budget Office.
“Labour is backing the people who keep our economy going,” Barbara Edmonds said.
“The tradie still waiting to be paid for a job finished months ago. The sole trader whose laptop gives out the week GST is due. The builder who just wants to get back on the tools.
“We’ll get them paid on time, help them invest in their business, and get work started right on their doorstep. When a local business wins a repair job, it keeps its team together, buys from nearby suppliers and takes on an apprentice.
“Labour will also back the Kiwi businesses that will create tomorrow’s jobs. Too many promising companies are forced to move or sell overseas before we see the full benefit.
“We’ll redirect up to $50 million a year of the Government’s contribution to the NZ Super Fund into Elevate, so more innovative businesses can expand, hire and pay good wages here at home.
“Government is about choices, and every commitment we’ve made is fully costed and paid for in our independently verified fiscal plan.
“This election is a choice between a country that cuts and a country that grows. Labour will deliver good jobs, a fair go and a future people can afford,” Barbara Edmonds said.
