𝕃𝕒𝕓𝕠𝕦𝕣'𝕤 𝕗𝕚𝕤𝕔𝕒𝕝 𝕡𝕝𝕒𝕟 𝕝𝕠𝕠𝕜𝕤 𝕥𝕠 𝕣𝕖𝕕𝕦𝕔𝕖 𝕘𝕠𝕧𝕖𝕣𝕟𝕞𝕖𝕟𝕥 𝕤𝕡𝕖𝕟𝕕𝕚𝕟𝕘, 𝕞𝕒𝕚𝕟𝕥𝕒𝕚𝕟 𝕚𝕟𝕔𝕠𝕞𝕖 𝕥𝕒𝕩 𝕤𝕖𝕥𝕥𝕚𝕟𝕘𝕤

𝔸𝕤 𝕥𝕙𝕖 𝕔𝕠𝕦𝕟𝕥𝕣𝕪 𝕒𝕨𝕒𝕚𝕥𝕤 𝕥𝕙𝕖 𝕟𝕒𝕥𝕚𝕠𝕟𝕒𝕝 𝕡𝕒𝕣𝕥𝕪 𝕗𝕚𝕤𝕔𝕒𝕝 𝕡𝕝𝕒𝕟, 𝕥𝕙𝕖𝕪 𝕡𝕣𝕠𝕞𝕚𝕤𝕖𝕕 𝕨𝕚𝕝𝕝 𝕓𝕖 𝕣𝕖𝕝𝕖𝕒𝕤𝕖𝕕 𝕓𝕖𝕗𝕠𝕣𝕖 𝕧𝕠𝕥𝕚𝕟𝕘 𝕤𝕥𝕒𝕣𝕥𝕖𝕕. 𝕋𝕙𝕖 𝕣𝕖𝕤𝕡𝕠𝕟𝕤𝕚𝕓𝕝𝕖 𝕃𝕒𝕓𝕠𝕦𝕣 ℙ𝕒𝕣𝕥𝕪 𝕥𝕠𝕕𝕒𝕪 𝕣𝕖𝕝𝕖𝕒𝕤𝕖𝕕 𝕥𝕙𝕖𝕚𝕣𝕤.

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abour has released its fiscal plan stating now is not the time for additional taxes and acknowledged the next few Budgets would be tight.

Labour is calling its fiscal plan responsible, balanced and credible.

Its numbers have been reviewed by Infometrics that have concluded the costings appear reasonable and fit within the Budget allowances.

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Party's finance spokesperson Grant Robertson acknowledged the next few Budgets would be tight but said there was room for a limited number of new commitments.

That included removing GST off fruit and vegetables, and free dental care for those under 30.

Robertson said the party's fiscal goals include achieving an OBEGAL (operating balance before gains and losses) surplus and keeping net debt below 30 percent of GDP.

"We are on track to meet these rules. OBEGAL is forecast to reach a surplus of $2.1 billion in 2026/27. Net debt peaks at 22.8 percent of GDP in 2024/25 and declines over the forecast period, well below the ceiling of 30 percent of GDP.

"To support meeting these fiscal rules, Labour's fiscal strategy will continue our responsible and balanced fiscal approach. We will drive further savings and efficiencies across government on top of the $8b we have found this year. We will prioritise investment in essential public services that New Zealanders rely on and build a stronger and more resilient economy that delivers high-wage jobs and transitions to a low-carbon future.

"Labour will maintain income tax settings to provide consistency and certainty in these volatile times. Now is not the time for additional taxes or to promise billions of dollars in unfunded tax cuts which would add to inflation and take money away from health, education and housing.

"Our savings and revenue measures include the removal of depreciation for non-residential buildings. Our existing fiscal sustainability and effectiveness programme will lead to further opportunities for savings and repriorisations to ensure government spending is directed toward the areas and people who need it most."

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Labour has been criticising National's take on the economy as a "doom and gloom" campaign; National says Labour is the negative one.

The economy is a key battleground this election, with major questions hanging over each of their flagship policies. Despite economists' calculationssuggesting National's tax plan has a roughly $530m shortfall more than a week ago, the party has so far failed to provide evidence debunking those calculations - or front up with its own.

Labour has also largely stopped drawing attention to its GST off unprocessed fruit and vegetables policy, with the consensus from economic and tax expertssaying it would be ineffective. The savings would more likely go into supermarkets' pockets than shoppers' and it would be an erosion of the broad-based tax system nearly impossible, politically, to reverse.

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