The Labour Party would offer doctors and nurse practitioners low-interest loans to set up new practices or buy into existing ones, if elected next year.
Leader Chris Hipkins made the announcement at the party’s annual general meeting in central Auckland on Sunday afternoon.
He said Labour would provide up to 50 loans each year, prioritising areas that had no general practitioners, or practices with closed or partially closed books.
Doctors could apply for loans of up to 90% of the cost of buying into a practice, capped at $500,000.
The loans would only be available for owner-operated general practices, with corporate-owned clinics excluded.
They would be interest-free for the first two years, with monthly repayments beginning on the outstanding balance at an annual interest rate of 3%.
The policy would give doctors up to 10 years to repay the loan and each doctor could only receive one loan under the scheme.
Hipkins said the loans would be available from July 1, 2027, through the existing Small Business Cashflow Loan Scheme.
“This is a practical, targeted way to boost locally-owned clinics across New Zealand and strengthen the ones we already have,” he said. “More doctors in our communities means shorter waits for patients.
“Nearly 650,000 New Zealanders can’t afford to see their doctor when they need to, and many others wait too long for an appointment.
“This announcement builds on our plan for three free doctor’s visits, improvements to GP funding and free cervical screening – all aimed at making it easier for people to get care when they need it.”
The party’s pledged millions of dollars in interest-free loans to doctors. (Source: 1News)
Hipkins said the policy would compliment his party’s plan to free up 4.5 million doctor’s appointments every year.
“The number of doctor-owned practices is falling, as is the number of doctors who work in doctor-owned practices,” he said. “It’s expensive to start a new practice or buy into an existing one, so our low-interest loans will give doctors the kickstart they need to get established.
“Two-thirds of practice owners and partners are intending to retire in the next 10 years, so it’s vital we can support the next generation to keep the doors and books open.
“This scheme is just one way Labour can help ensure healthcare is there where you need it, when you need it.”
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