Labour finance spokesperson Barbara Edmonds won’t be drawn to explain how exactly her party would address New Zealand’s structural deficit if elected next year, telling Q+A details won’t come until after Budget 2026.
She spoke to Jack Tame yesterday shortly after addressing party faithful, having told Labour conference-goers that “getting the economy growing and balancing the books means we can’t say yes to everything, and I make no apology for that”.
But her party has already detailed a series of policy ambitions — such as reversing the coalition’s pay equity changes, bringing back its more expensive school lunches, and remaining committed to New Zealand’s 2030 emissions targets.
Edmonds was pressed on whether the estimated $13 billion bill for equity claims, estimated by Treasury before this year’s reversals, would be affordable.
“We can afford pay equity if we choose to. It comes down to what we value,” she said.
“I make no apologies for valuing women’s worth.”
When Tame noted Labour would face a tougher fiscal challenge than the current government — needing to return to surplus under the stricter OBEGAL measure rather than Finance Minister Nicola Willis’s OBEGALx — Edmonds said Labour would “make the money work” through choices that reflect the party’s values.
“A just cause leads to a thriving society, and we will make the money work, because that’s what we value in the Labour Party,” added the shadow finance minister.
“It’s all about government choices, and they chose tobacco companies, oil and gas subsidies, and tech exemptions. Every government will make hard choices, and we’re going to have very responsibly managed books.
“I make a commitment to New Zealand. We will be absolutely transparent about it. We will show that clarity. There is still possibly a year to go for the election. There is one more government budget, and we will make sure our fiscal plan is released after that.”
Those choices also included possibly billions to meet 2030 climate commitments through purchasing offshore credits.
On whether she would instruct Treasury to list climate costs as a government liability if she became finance minister, Edmonds repeatedly deflected, saying she wanted to see how the current government would pay for Paris Agreement obligations first.
“We need to meet our Paris obligations. But the key thing for me is understanding how this Government is going to do that,” Edmonds said.
“I make no apologies. They are in government. There is one more Budget to go. We’ve got, possibly a year before the election. Labour will be clear and transparent with the country when we come up with our fiscal plan and we see what their numbers are first.”
Asked about the potential reintroduction of the digital services tax on tech companies with president Donald Trump in the White House, Edmonds said the situation had changed over two years and she would need to see fresh advice from officials.
The former tax lawyer also defended Labour’s narrow capital gains tax in the interview.
Improving economy makes opposition’s election job harder – Edmonds
Edmonds also told Q+A that while some economic indicators were turning positive, including record dairy prices and growth in job advertisements, the improving conditions could work against Labour politically.
“Does that make my job harder? Yes, possibly,” Edmonds said when asked about economic improvements ahead of the 2026 election.
“Makes it harder because people might feel better, but ultimately, for me, it’s about providing the alternative to them to make them feel even better.”
The MP said she wanted the economy to improve for people, even if it complicated Labour’s electoral prospects.
“They just might think, well, we’ll just stick with National, we’ll just stick with New Zealand First. We might just stick with this coalition of chaos that’s currently happening, but ultimately, Kiwis will have a choice next year,” she said.
Edmonds pointed to mixed signals in the economy, noting the rural sector was performing well with record dairy prices, while Auckland faced higher unemployment compared to other parts of the country.
“It really is a personal thing as to whether people actually feel well off.”
For the full interview, watch the video above
Q+A with Jack Tame is made with the support of New Zealand On Air
