New Zealand needs a new economic approach so that Kiwis stop falling further behind and have opportunities to start getting ahead, Opposition Leader Christopher Luxon says.

“This Government has no plan for the economy except to spend more money. Their economic mismanagement has contributed to the highest inflation in over 30 years and a cost of living crisis that is pummelling Kiwis up and down the country.

“Labour don’t seem to understand that to grow the economy, you don’t need to grow Government. Their only economic playbook is to spend more and tax Kiwis more to pay for it.

“While Labour thinks success comes from more spending, National thinks results for Kiwis are more important.

“We know that the only way to kick-start our economic engine and grow the pie for us all is to back hard-working Kiwis and businesses up and down the country.

“Today I am laying out the foundations of National’s economic approach that will build a credible alternative economic plan before the next election.”

National will focus on five critical levers of prosperity:

· Education and skills – Improve outcomes from our education system through better use of information to drive results. If a child can’t read or add as well as their peers, we need to know so we can intervene. We will also support home-grown talent with enhancing our workforce through immigration.

· Infrastructure - Unlock real investment in infrastructure so we build things when and where we need, rather than constantly playing catch-up. That means innovating on finance, thinking long-term, and fixing planning rules so they are no longer a barrier.

· Technology, capital and innovation – Encourage businesses to invest in themselves to drive faster technology adoption. That means removing barriers preventing small businesses from accessing capital and growing into large ones, and welcoming productive investment that gives Kiwis the tools to work smarter, not harder.

· Business environment - Make it easier to build a business, because that’s what generates growth and higher incomes – not Government. We will put an end to the onslaught of red tape and continually re-test existing rules so if they’re no longer fit for purpose, they’ll be scrapped.

· Connections with the world - Compete aggressively to attract people with high-quality skills and talent from around the world. We will make it easier for entrepreneurs to access global capital, expertise and ideas and get the trade agenda back on track so our exporters aren’t falling behind Australia.

“New Zealand needs a new economic approach. We can’t spend our way out of the cost of living crisis. That’s why the next National Government will focus on the drivers of prosperity.

“National will address the supply side of the economy so we can produce more value and lift incomes for everyone. We will unleash enterprise so Kiwis can get ahead.”

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