From NZ Herald · · 3m
NZ First’s policies cost $72b without BNZ buyback
NZ First’s election policies could cost $72 billion, but the party refuses to share its own figures.
In brief
NZ First’s election policies could cost $72 billion, but the party refuses to share its own figures. NZ First’s policies cost $72 billion over four years, excluding BNZ renationalisation, which the party says would cost $7.5 billion. Originally reported by NZ Herald.
Policy cost analysis
New Zealand First’s policies come with a $71.6 billion price tag according to Green Party analysis using publicly available figures.
BNZ renationalisation cost
The party estimates renationalising the BNZ would cost $7.5 billion, though other estimates reach $24 billion.
KiwiSaver policy cost
Making KiwiSaver compulsory would cost the Crown $16.7 billion annually, or $66.7 billion over four years.
SME tax rate cut
Lowering company tax for small-to-medium enterprises from 28% to 20% costs $1 billion annually, or $4 billion over four years.
Kiwi Kids Grant
The Kiwi Kids Grant costs $400 million annually once fully rolled out over three years, totaling $1.2 billion over four years.
National Subsurface Survey
The National Subsurface Development Survey costs $1 billion over the next term of government.
Infant KiwiSaver grants
A $1000 KiwiSaver grant for newborns costs $232 million over four years.
Mining royalties share
Sharing half of Crown mining royalties with local authorities costs $286 million over four years.
Working for Families policy
The Working for Families policy costs $2.2 billion over four years, the midpoint of NZ First’s estimated $500m, $600m annual cost.
Green Party’s stance
Green Party co-leader Chlöe Swarbrick called for an independent department to cost party policies, noting both National and Labour have come close to achieving this.
NZ First’s response
NZ First refused to publish its own fiscal plan, claiming the Greens’ numbers are inaccurate and that their policies would be funded by economic growth.
Economic growth claim
The party claims its policies would double New Zealand’s economy by 2050 and boost growth from 1.7% to higher rates.
Parliamentary Budget Office
Swarbrick urged for a Parliamentary Budget Office to run the ruler across every party’s promises for transparent comparisons.
Fiscal gap
The Greens’ spending promises total $281 billion, but NZ First claims the Greens are $800 million out on economic matters.
Costing methodology
The Green Party used the Parliamentary Library’s tax calculator to model the cost of NZ First’s policies based on publicly available data.
Policy funding
NZ First plans to fund the BNZ purchase through borrowing and investment funds rather than the operating budget.
The one thing
NZ First’s policies cost $72 billion over four years, excluding BNZ renationalisation, which the party says would cost $7.5 billion.
