# 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.
- Title: NZ First’s policies cost $72b without BNZ buyback · NZ Herald
- Summary: 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…
- Keywords: nz first, kiwisaver, green party, bnz, tax policy, fiscal plan, new zealand politics, election 2026, politics, news, First, policies
- Source: NZ Herald — https://nzherald.co.nz/nz/politics/nz-firsts-policies-could-cost-72b-and-that-doesnt-include-buying-back-the-bnz/premium/SMEMEEW25JE7DC4IQPTINQGFYA
- Read time: 2 min
- Topics: nz first, kiwisaver, green party, bnz, tax policy, fiscal plan, new zealand politics, election 2026, politics, news
## 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.
## Key takeaway

NZ First’s policies cost $72 billion over four years, excluding BNZ renationalisation, which the party says would cost $7.5 billion.