# Labour to pull $50m from Super Fund for Elevate fund

> Labour redirects up to $50m yearly from NZ Super Fund to boost domestic business growth via Elevate fund.
- Title: Labour to pull $50m from Super Fund for Elevate fund
- Summary: Labour redirects up to $50m yearly from NZ Super Fund to boost domestic business growth via Elevate fund. Labour will redirect up to $50 million annually…
- Keywords: labour, elevate fund, super fund, nz super fund, government, finance, policy, election 2026, new zealand, economy, politics, news
- Source: NZ Herald — https://nzherald.co.nz/nz/politics/election-2026-labour-to-pull-up-to-50m-from-super-fund-for-elevate-fund/JJT7M24P2BFAXJKVLQTTX4BJLM
- Read time: 1 min
- Topics: labour, elevate fund, super fund, nz super fund, government, finance, policy, election 2026, new zealand, economy, politics, news
## 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.
## Key takeaway

Labour will redirect up to $50 million annually from the NZ Super Fund to Elevate fund to support local businesses.