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NZ First on Economy

Break up concentrated markets, and expand state and citizen ownership.

NZ First’s current campaign is built on breaking up markets it says are too concentrated — power and supermarkets — and putting more assets back in New Zealand hands, including buying back the Bank of New Zealand and enrolling every citizen in KiwiSaver from birth.

What they say they'll do

Break up power companies into separate generators and retailers to increase competition and lower electricity prices
Introduce legislation to split Foodstuffs into two competing cooperatives and strengthen Commerce Commission enforcement powers over supermarkets
Buy back the Bank of New Zealand from National Australia Bank and merge it with Kiwibank to form a Crown-owned 'National Bank of New Zealand'
Establish a New Zealand Future Fund of up to $100 billion to invest in long-term infrastructure
Invest $1 billion in a National Subsurface Development Survey to identify offshore oil, gas and geothermal resources
Return 50% of mining royalties directly to the region from which they came, and reopen the School of Mines

Who this affects

Households paying power bills

The policy to split power companies into generators and retailers aims to increase competition, which NZ First says would reduce electricity prices for homes and businesses.

Grocery shoppers and food producers

Breaking up Foodstuffs and strengthening the Grocery Commissioner's powers is intended to increase competition at the supermarket level and improve conditions for suppliers along the supply chain.

Bank customers and small businesses

A merged Crown-owned bank combining BNZ and Kiwibank would be positioned to compete with the four major Australian-owned banks, with a stated focus on lending to agriculture, infrastructure, and small to medium enterprises.

Regional communities where mining occurs

Half of any royalties from mining in a region would be returned to that region to fund local infrastructure, water services, transport, and housing development.

Newborns and their families

Compulsory KiwiSaver enrolment at birth with an automatic $1,000 Crown contribution for New Zealand citizens would give every child a savings account from day one.

Older migrants and superannuitants

From 2029, only New Zealand citizens would be eligible for NZ Superannuation, affecting permanent residents who are not citizens.

In their own words

“Four Australian owned banks control around 85 percent of the system. They lend our deposits back to us at margins that are materially higher than those earned by their parent groups in Australia.”

“We will establish a "New Zealand Future Fund" of up to $100 Billion to invest solely in a multi-decade infrastructure build, to ensure our future infrastructure security and to enable future economic growth and social enablement.”

“New Zealand First has announced its campaign policy that will see 50% of any royalties gained from mining to be directly returned to the region from which it came – not Wellington.”

Verify at NZ First — official policy page

Summarised neutrally from NZ First’s own official policy (as at 2026-09-07) and checked by an editor. Nothing is paraphrased without the source linked. Read the original ↗ Arapono is non-partisan. Compare all parties on Economy →

In depth — from NZ First’s policy document

A KiwiSaver Generation: enrolment at birth

NZ First would make KiwiSaver enrolment automatic at birth, with an immediate $1,000 Crown contribution for New Zealand citizens only — a once-per-lifetime payment meant to compound for decades. It is designed to work with their existing campaign policy of compulsory KiwiSaver across the workforce, with employee and employer contributions rising to 8 percent and eventually 10.

In depth — from NZ First’s policy document

Breaking up the supermarket duopoly

NZ First would legislate to split Foodstuffs into two nationwide cooperatives by brand — New World and Four Square in one, Pak’nSave in the other — putting both in direct competition with Woolworths. Commerce Commission penalties would rise to match Australia’s, the Grocery Commissioner would gain power to investigate, make binding decisions and impose penalties, and a new industry-rules framework under the Commerce Act 1986 would allow faster targeted action on the path from farm to shelf.

In depth — from NZ First’s policy document

Returning 50% of mining royalties to the regions

Half the royalties from any mine would stay in the region it came from rather than going to Wellington, earmarked for local infrastructure and services. Around that sits a wider mining package: new zones with clearer rules on where mining may happen, longer permits covering the full life of a mine, a reined-in role for DOC and other agencies, a modern geological survey of what is underground, and the reopening of the School of Mines.

In depth — from NZ First’s policy document

Buying back the BNZ to build a New Zealand owned bank

NZ First would buy the Bank of New Zealand back from National Australia Bank and merge it with Kiwibank to form the National Bank of New Zealand — fully Crown owned, commercially run, and big enough to compete with ANZ, ASB and Westpac. It would not come out of the operating budget: the funding stack is a sovereign banking bond, long-dated Crown debt, a limited tranche of Future Fund and ACC money, and Kiwibank’s existing capital.

Australian-owned share

In depth — from NZ First’s policy document

A Special Economic Zone at Marsden Point

A Special Economic Zone covering the former refinery and Northport, focused on energy and maritime activity including a new drydock for ship repairs. Its principal feature is relief from planning regulation and the RMA: instead of councils, DOC and other agencies, consents would be decided quickly by a government expert panel judging whether a proposal grows the economy. Changes to overseas investment rules and a range of tax incentives are under consideration.

Where

The former refinery and Northport

Focus

Energy and maritime

Principal benefit

In depth — from NZ First’s policy document

The Kiwi Kids Grant

A universal, non-means-tested payment of $5,000 a year for each of a family’s first three children, through each child’s first three years, tax free and paid monthly through IRD. One parent must be a New Zealand citizen. It would sit on top of existing support and is costed at $400 million a year by year three. The case made for it is demographic: a falling citizen birthrate that NZ First argues cannot be solved by migration.

Also contesting, without seats in Parliament
Women’s Rights
Animal Justice
ALCP
Conservative
Outdoors & Freedom
Vision NZ
Alliance
Free Palestine
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Te Tai Tokerau											∅

NZ First on Economy

What they say they'll do

Who this affects

In their own words

A KiwiSaver Generation: enrolment at birth

Breaking up the supermarket duopoly

Returning 50% of mining royalties to the regions

Buying back the BNZ to build a New Zealand owned bank

A Special Economic Zone at Marsden Point

The Kiwi Kids Grant

Coverage at a glance