Labour reveals vaunted fiscal plan - here's the key details
The Labour Party has unveiled its fiscal plan ahead of the upcoming election, promising that all spending is fully funded through revenue from a capital gains tax and the repeal of business investment incentives. The plan aims to return the budget to surplus by 2028/29.
Why it matters
The fiscal plan is a critical component of the party's election strategy to counter claims of economic mismanagement and hidden costs.
<p>Labour says all of its election promises will be fully paid for as it reveals a fiscal plan that leans on scrapping National's Investment Boost and a previously announced capital gains tax to help fund its spending.</p> <p>The plan, released ahead of the November election, keeps the $2.4 billion operating allowance set at Budget 2026, and it also forecasts a return to surplus in 2028/29, the same year as existing forecasts under the National-led coalition.</p> <p>Labour said all of its promises are "fully costed and fully funded" while closely similar debt and surplus commitments detailed by the Government.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in