Labour's new economic plan

Labour says it will draw up to $50 million per year from the Super Fund to boost the Government-backed Elevate venture capital fund.

Policy details

The plan includes repealing investment boost to focus support more towards small businesses and apprenticeship boost.

Barbara Edmonds statement

Too many promising companies are forced to move or sell overseas before we see the full benefit.

“Too many promising companies are forced to move or sell overseas before we see the full benefit”

Elevate fund funding

In Budget 25, the Government put a one-off $100m into Elevate with $61m from Super Fund and $39m from government.

Edmonds' clarification

This is not about raiding the Super Fund, this is around spreading the divestment and investment into New Zealand by using Super Fund funds.

Edmonds' stance

It’s a small amount, not corporate welfare.

Government fiscal plan

Every commitment is fully costed and paid for in independently verified fiscal plan.

Labour finance spokeswoman

Barbara Edmonds is Labour's finance spokeswoman.

Edmonds' location

Edmonds referenced coalition Government's funding while speaking in Queenstown.

Elevate fund purpose

Elevate fund supports innovative businesses to expand, hire and pay good wages in New Zealand.

Funding source

Government contribution to NZ Super Fund redirected to Elevate fund.

Policy impact

More innovative businesses can expand, hire and pay good wages domestically.

Fiscal plan verification

Commitments fully costed and paid for in independently verified fiscal plan.

Election context

Labour releases economic plan ahead of 2026 election.