Labour and National fiscal plans 2026

The story so far

On 2 October Labour released a fiscal plan that it said fully funds all its election promises, including a $2.5 billion interim pay rise for care and support workers.^{3 Oct} That plan gave no specific cost for fully re-implementing the pay equity regime, and Labour said it intends to reach surplus at the same time as National.^{3 Oct} The two main parties then disputed each other's numbers: National said Labour had overestimated savings from scrapping the Investment Boost by $2.2 billion, while Labour rejected those calculations but admitted a $90 million error in its plan.^{6 Oct}

Latest

Finance and economy spokesperson Barbara Edmonds said the move aims to help innovative businesses expand and hire more staff.^{14 Oct}

What's next

The stories say the election is being held in November.^{3 Oct}

Key moments

1. 24 SepLabour announces $4.3 billion plan for social homes, schools and hospitals.
2. 3 OctLabour releases fiscal plan, saying all promises are fully funded.
3. 5 OctLabour website error page appears as Nicola Willis says 'not serious people'.
4. 6 OctNational disputes Labour's Investment Boost savings; Labour admits $90 million error.
5. 12 OctNational releases fiscal plan with no tax cuts next term.
6. 14 OctLabour pledges up to $50 million a year for Elevate fund.

Written from the stories below; each sentence links to its sources.