Labour Promises Balanced Budget and Economic Growth for New Zealand

New Zealand's Labour Party has unveiled its economic plan, promising to balance the books and grow the economy. According to Labour Leader Chris Hipkins, 'New Zealand should be a country where hard work gets you somewhere.'

The party aims to return to surplus by 2029/30 and reduce net debt down to 20% of GDP over time. Labour will also restore the Reserve Bank's dual mandate, which considers both price stability and maximum sustainable employment.

'We won't cut our way to growth,' said Hipkins. 'Instead, we'll invest in hospitals, schools, infrastructure, skills, and businesses that create jobs.'