National’s Economic Plan backs Kiwis to get ahead
National has released its Economic Plan to ensure hardworking New Zealanders can keep more of what they earn, get ahead, and build a more secure future.
The Economic Plan lays out National’s practical approach to growing the economy:
- Responsibly managing the books, including a return to surplus in 2028/29.
- Reducing red tape and supporting innovation, including the replacement of the Resource Management Act.
- Delivering world-class education, by replacing NCEA, focusing on reading, writing and maths, and delivering more trades training.
- Driving trade and investment, through securing new trade deals, boosting tourism and delivering Investment Boost.
- Building infrastructure for the future, such as new roads, hospitals, classroom and energy projects.
“Delivering on our Economic Plan means we can commit to no new taxes so people keep more of what they earn, reward hard work with more jobs and higher wages, and build New Zealanders’ financial security,” National’s Finance and Economic Growth spokesperson Nicola Willis says.
“It’s been a tough few years for everyone, with a pandemic, a recession, trade wars and global conflicts all putting pressure on Kiwi households and businesses.
“National inherited an economy in dire straits. Under Labour, inflation reached a generational high of 7.3 per cent, interest rates climbed to levels not seen since the Global Financial Crisis, and government debt tripled.
“Since coming into Government, National has been focused on reversing the downward spiral by fixing the basics in the economy. That means delivering tax relief, stopping wasteful spending to lower inflation and interest rates, and removing barriers in the way of businesses getting things done.
“Despite ongoing uncertainty overseas, New Zealand’s economy is turning around. Inflation and interest rates are down, we are growing faster than the US, UK, Canada, Australia and Japan, 220,000 new jobs are forecast over the next four years, and wages are set to grow faster than prices.
“Tomorrow’s Pre-Election Fiscal Update will provide an update on the progress we are making to reduce debt, return to surplus, grow the economy, and secure the future for New Zealanders and their families.
“National’s Economic Plan outlines the priorities and measures we will focus on to continue this progress, whether that’s supporting greater investment by growing KiwiSaver, building new Roads of National Significance and replacing NCEA, or freeing up $50 billion of government procurement to more competition and ensuring red tape isn’t holding back new fin-tech or investment.
“We need to continue with the plan that is working, especially as the world remains volatile. Now is not the time to dramatically change course by loading on more spending, more taxes and more borrowing as Labour is proposing.
“The only way to keep the momentum going is with a National-led Government and a clear plan to strengthen the economy so Kiwis can get ahead.
“We will continue to get the books in order, reduce red tape and support innovation, improve education, drive trade and investment, and build the infrastructure New Zealand needs. It’s all part of our wider plan to fix the basics and build the future.
“The choice is clear this election. It’s either National which is fixing the basics and building the future by growing the economy to create more jobs and higher wages with no new taxes, or a chaotic Labour coalition that spends more, increases debt and imposes at least nine new taxes that will make every Kiwi worse off.”
