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Economy · Party position

NZ First on Economy

Cut costs, balance books, boost wages and investigate big business

NZ First says it will balance the government's budget and cap spending to help bring down inflation and interest rates. It wants to investigate supermarkets, banks, and power companies for overcharging. It plans to make the lowest income tax bracket tax-free, look at lifting the minimum wage to at least $25 an hour, limit the time people can be on a jobseeker benefit, and build more infrastructure through a new infrastructure bank and energy ministry.

What they say they'll do

  • Cap total government expenses at $165bn and core expenses at $133bn to reach a budget surplus
  • Make the lowest income tax bracket ($14,000) tax-free by 1 April 2027
  • Investigate supermarkets, banks, and power companies for overcharging and monopoly behaviour
  • Explore lifting the adult minimum wage to at least $25 an hour via business tax concessions
  • Limit the JobSeeker WorkReady benefit to a two-year lifetime entitlement
  • Establish a New Zealand Infrastructure Bank and a Regional Productivity Growth Fund to support business investment

Who this affects

Wage earners
The proposal to make the first $14,000 of income tax-free would mean workers keep an extra $28.27 per week according to the party.
Low-paid workers
The party says it will explore raising the adult minimum wage to at least $25 an hour by giving businesses a tax concession to cover the cost.
Benefit recipients
People receiving the JobSeeker WorkReady benefit would have their entitlement capped at a lifetime maximum of two years under this policy.
Mortgage holders and KiwiSavers
The party says it will look at allowing KiwiSavers to use savings above a certain level to pay down their mortgage, based on a Singaporean model.
Supermarket shoppers
The party says it will require supermarket chains to sell off their distribution centres and cool-stores to increase competition and lower grocery prices.
Small and regional businesses
A Regional Productivity Growth Fund would focus on infrastructure like roads, water, power, and internet to help businesses in the regions grow and invest.

In their own words

“Balance the budget to take the heat off interest rates and inflation. Use policies to get our economy out of the red and back to black responsibly”
“NZ First will legislate to make the lowest tax bracket (currently $14,000 pa) of income tax-free no later than 1 April 2027; providing an extra $28.27 a-week for workers.”
“Foreign owned banks, supermarkets, and energy 'gen-tailers' will face a full scale pricing and monopoly investigation, as they have in other countries”
Verify at NZ First — official policy page

Summarised neutrally from NZ First’s own official policy (as at 2026-06-22) and checked by an editor — never paraphrased without the source linked, and never an endorsement. Read the original ↗ Arapono is non-partisan. Compare all parties on Economy →

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