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Articles by Nicola Willis
New Zealand a bright spot in global economy
New Zealand’s economy is a bright spot in a difficult global environment, growing faster than other advanced economies while interest rates rise overseas, National’s Finance and Economic Growth spokesperson Nicola Willis says. “Overnight the Bank of England raised its interest rate to 4 per cent, its first increase in more than three years. That follows the Reserve Bank of Australia lifting its cash rate to 4.85 per cent this week, marking its fifth rise this year and the highest level since 2008.
Government’s books show National’s plan working
The continuing improvement in the government’s books highlights the importance of sticking with the plan that is working, National’s Finance spokesperson Nicola Willis says. “The financial statements for the first three months of the year, released today, show the operating balance deficit was $1.3 billion lower than forecast in the Pre-election Fiscal and Economic Update. “This positive news shows that National’s plan is working and three years of responsible economic management is paying off.
Jobs data shows why Kiwis can’t risk Labour
Today’s labour market statistics reflect the impact of uncertainty on the economy and the need to stick with the plan that is working to rebuild the economy, National’s Finance spokesperson Nicola Willis says. “The economy is strengthening but businesses have been understandably cautious about employing more people while oil prices remain high and the outcome of the New Zealand election remains unknown.
‘Sky-high’ retail confidence under National, at risk under Labour
Retailers are more confident in the economy than they have been in two years, signalling that National’s economic plan is working, National’s Finance and Economic Growth spokesperson Nicola Willis says. “New Retail NZ data out today shows 75.1 per cent of retailers expect to meet or exceed their targets in the fourth quarter. The share expecting to exceed their targets has almost doubled compared with the average of the previous eight quarters.
The cost of Labour’s four-party coalition
Chris Hipkins has handed the Greens, Te Pāti Māori and Opportunity the upper hand by promising to form New Zealand’s first four-party coalition by Christmas, National’s Finance spokesperson Nicola Willis says. “Labour’s coalition partners now have Chris Hipkins over a barrel. They know his deadline. They know he needs all three of them to form a government. And they know that to become Prime Minister, Chris Hipkins will have to make serious concessions to secure their support.
National’s plan is working but economy not out of the woods yet
Today’s decision to hold the Official Cash Rate (OCR) highlights the risk of Labour’s unaffordable spending plans, National’s Finance spokesperson Nicola Willis says. “At 2.75 per cent, the OCR is half the rate it was under Labour. That makes a huge difference to household costs.
Don't risk more taxes and debt with Labour/Greens
Chris Hipkins must tell New Zealanders how many of the Green Party’s new taxes he is willing to adopt to keep his promise to form government by Christmas, National’s Finance spokesperson Nicola Willis says. “The choice at this election is clear – sticking with National’s plan which is delivering a growing economy, less debt, more jobs and higher wages.
Inflation down but Labour will put progress at risk
Inflation has fallen and the economy is strengthening, but New Zealand cannot afford to put that progress at risk with Labour’s unaffordable spending plans, National’s Finance spokesperson Nicola Willis says. “Annual inflation has fallen to 3.7 per cent in the year to September, down from 4.1 per cent. “Without the fuel price hike caused by the conflict in the Middle East it would have been 0.7 percentage points lower, but we have to be realistic.
New surveys show National’s plan is working
National’s plan to fix and grow the economy is working, with two new independent surveys out today showing growth in the manufacturing and construction sectors. The BNZ - BusinessNZ Performance of Manufacturing Index (PMI) for September came in at 56.5, comfortably above the survey's long-term average of 52.5. A reading above 50.0 shows the sector is expanding.
IMF forecasts NZ to outperform other advanced economies
The latest report from one of the world’s leading economic institutions highlights the importance of sticking with National’s plan to grow the economy, National Party finance spokesperson Nicola Willis says. “The International Monetary Fund is forecasting growth in New Zealand to accelerate to 2.6 per cent next year while growth in other advanced economies declines or flatlines.
Diesel reserve extended to maintain fuel security
The Government has extended an agreement for a 550,000-barrel strategic diesel reserve until August 2027 to maintain New Zealand’s fuel resilience, Finance Minister Nicola Willis and Associate Energy Minister Shane Jones say. “Maintaining our national fuel security, particularly through a period of global uncertainty, remains a top priority for the Government.
National’s plan to welcome more Kiwis home
A re-elected National Government will legislate and direct five key commitments in its first 100 days aimed at encouraging young New Zealanders to stay or return home to build their future, Finance and Economic Growth spokesperson Nicola Willis says. “National wants to make New Zealand the most attractive place for our young people to raise a family, build a career, start a business, and make a contribution to our country.
National’s plan to secure New Zealand’s future
National’s fiscal plan prioritises bringing down debt and delivers surplus in 2028/29, with no new taxes, Finance and Economic Growth spokesperson Nicola Willis says. “New Zealanders have worked hard through a tough few years. National’s plan is about rewarding that hard work, letting more of what people earn stay in their pockets, and building a more secure future for families and businesses.
Labour’s fiscal plan a fraud
Labour cannot be trusted with the economy after releasing a dishonest fiscal plan that lacks any credibility and would leave New Zealanders paying a higher price, National’s Finance spokesperson Nicola Willis says. “This is the least credible fiscal plan released by a major party in living memory. “Today was Chris Hipkins and Barbara Edmonds’ opportunity to make Labour’s numbers add up and they have failed, far worse than anyone could have expected.
Labour will cost households $2,263 per year
Refreshed analysis of the gap between Labour’s spending promises and revenue intentions shows the average Kiwi household would be on the hook for $2,263 in additional tax per year, National’s Finance spokesperson Nicola Willis says. “Labour’s hidden bill has now hit $18.8 billion and that money ultimately has to come from New Zealand taxpayers. “It works out to $2,263 in additional tax for the average Kiwi household every year.
Economy strengthening, books getting better
Today’s pre-election update forecasts healthy economic growth and a distinct improvement in the government’s books, Finance Minister Nicola Willis says. “I’m pleased that New Zealanders’ hard work, resilience and adaptability through tough economic times is bearing fruit. “Today’s numbers show that the deficit in the year ending July this year was $3.4 billion smaller than forecast in the Budget in May, reflecting stronger economic momentum.
National’s Economic Plan backs Kiwis to get ahead
National has released its Economic Plan to ensure hardworking New Zealanders can keep more of what they earn, get ahead, and build a more secure future. The Economic Plan lays out National’s practical approach to growing the economy: Responsibly managing the books, including a return to surplus in 2028/29. Reducing red tape and supporting innovation, including the replacement of the Resource Management Act.
Shoppers need evidence-based grocery reform
National welcomes the growing political consensus that structural change may be needed to improve supermarket competition so Kiwi shoppers get a better deal, but Labour’s proposal is the wrong answer and lacks detail, National’s Finance and Economic Growth spokesperson Nicola Willis says. “Kiwi shoppers are paying more than they should for groceries because of weak supermarket competition in New Zealand.
National to pursue separation of Foodstuffs
National will pursue the structural separation of Foodstuffs, subject to an independent Commerce Commission assessment, so Kiwis get a fairer deal at the checkout, National’s Finance and Economic Growth spokesperson Nicola Willis says. “New Zealanders are paying more than they should for groceries because supermarket competition is still too weak. Families deserve more choice, better prices and supermarkets that have to fight harder for their dollars,” Ms Willis says.
Guardians board member reappointed
Business leader David McClatchy has been reappointed as a Member of the Guardians of New Zealand Superannuation Board, Finance Minister Nicola Willis says. The board manages and administers the investments for the NZ Superannuation Fund and the Elevate NZ Venture Capital Fund which, as of 30 June, were worth $94.4 billion.
International Visitor Levy reset to keep taxes low
National will reset how the International Visitor Levy (IVL) is spent so councils receive a direct return from the visitors they host, without introducing a bed tax. “Tourism is New Zealand’s second-largest export earner and a key driver of economic growth, jobs and higher incomes,” National’s Finance spokesperson Nicola Willis says. “As visitor numbers recover and continue to grow, the communities hosting those visitors should share more directly in the benefits of tourism success.
KiwiMart must go in the bin next to KiwiBuild
The Green Party’s answer to high grocery prices is to put taxpayers on the hook for a $2.8 billion Government-owned supermarket, National’s Finance spokesperson Nicola Willis says. “The last thing Kiwi shoppers need is a Soviet-style Government-owned supermarket chain run by Chris Hipkins, Chloe Swarbrick and their mates.
Increasing resilience of economy welcomed
The Reserve Bank’s assessment that the economic recovery is resuming and expected to broaden, has been welcomed by Finance Minister Nicola Willis. Announcing a 0.25 basis point lift in the Official Cash Rate today to 2.75 per cent, the Reserve Bank said it expected the recovery to strengthen and broaden, the export sector to remain resilient and household spending to increase. The bank also expects purchasing power to increase as inflation returns to the mid-point of its target range.
Labour's CGT will hit small businesses
Labour’s Capital Gains Tax would raid the retirement plans of thousands of New Zealanders by hitting the small businesses they have spent years building, National’s Finance spokesperson Nicola Willis says. “Labour has been claiming for more than a year that its Capital Gains Tax doesn't impact businesses, with Leader Chris Hipkins stating that businesses are ‘exempt’. “But according to Labour’s own policy documents, that is categorically untrue.
Government cancels fuel tax hike
The fuel excise hike planned for next year has been cancelled to help Kiwis with the cost of living and deliver lower taxes for New Zealanders, Finance Minister Nicola Willis and Transport Minister Chris Bishop have announced. “Fuel excise was scheduled to resume annual increases starting with a 12c per litre increase from 1 January 2027, with equivalent increases to road user charges.
Back Pocket Boost for Graduates in New Zealand
A re-elected National Government will let Kiwis with student loans who stay in New Zealand keep more of what they earn, while toughening up on those who leave the country before paying back their loan, Finance Minister Nicola Willis says. “New Zealand’s positive economic outlook is helping reverse the brain drain, with a 14 per cent increase in Kiwis moving home from Australia. National will go further to make New Zealand even more rewarding for young Kiwis to build their future.
Stable credit rating a vote of confidence
Finance Minister Nicola Willis has welcomed rating agency S&P’s vote of confidence in the New Zealand economy. The agency has affirmed New Zealand’s AA+ foreign currency credit rating with a stable outlook and is forecasting the economy to grow 2.5 per cent in the 12 months to June next year. “New Zealand is one of just 18 economies to have an AA+, or better rating,” Nicola Willis says.
No new taxes under National
National is committing to no new taxes if re-elected on November 7, Leader Christopher Luxon and Finance spokesperson Nicola Willis confirmed today. “National believes that New Zealand should be a country where if you work hard, you can get ahead,” Christopher Luxon says. “Part of that means keeping taxes low so New Zealanders can keep more of what they earn and have more choices about what they and their family can do with their money. But that is only possible under a National Government.
Call for Hipkins to clarify additional taxes
National is calling on Labour Party leader Chris Hipkins to clarify his party’s position on two additional taxes mooted by senior Labour personnel. “Labour and its mates are already planning to introduce nine new taxes to fund Labour’s $18 billion hidden bill,” National’s Finance Spokesperson Nicola Willis says.
National unveils its Budget Responsibility Rules
A re-elected National Government will commit to three Budget Responsibility Rules to protect the economy so New Zealanders have more opportunities, higher wages and quality public services, National’s Finance spokesperson Nicola Willis says. “It’s been a tough few years for New Zealanders, with our economy experiencing the impacts of global shocks and profligate spending by the previous government that drove inflation and interest rates to generational highs,” Ms Willis says.
Earlier monetisation of Chorus debt to the Crown supports infrastructure investment
The Crown has entered into binding agreements to monetise the debt it holds in telecommunications lines company Chorus, Finance Minister Nicola Willis and Infrastructure Minister Chris Bishop have confirmed. “The Government announced in December 2025 its decision to progress the early monetisation of interest-free loans provided to Chorus between 2012 and 2023 to help accelerate the rollout of fibre broadband across New Zealand,” Ms Willis says. “These loans had a book value of $642 million.
Labour business policy a $5 billion tax grab
Kiwi businesses will be worse off under Labour’s policy to cut Investment Boost, National’s Finance spokesperson Nicola Willis says. “Labour is taking $6.6 billion of support for Kiwi businesses and shrinking it to $1.56 billion. That is more than $5 billion ripped away from small businesses and pocketed to help fill their $18.2 billion funding gap,” Ms Willis says.
New subjects bring industry and the classroom closer together
An exciting range of future-focused, industry-led secondary school subjects was launched by Economic Growth Minister Nicola Willis and Education Minister Erica Stanford today, giving young New Zealanders more opportunities to connect what they learn at school with the jobs, training, and careers of the future.
Jobs data shows why economic growth matters
Today's labour market statistics confirm what many New Zealanders already know from experience: the second quarter of this year was a tough one, Finance Minister Nicola Willis says. "April, May and June were difficult months for many employers. They faced real uncertainty and rising costs, and a lot of them made the hard call to hold off on hiring or expanding. Today's data, showing unemployment at 5.6 per cent, reflects that.
National’s plan for growth matters
New labour market statistics show why National's long-term plan to grow the economy and create jobs matters, National’s Finance spokesperson Nicola Willis says. "It's been a tough few months for employers grappling with real cost pressures and genuine uncertainty, and today's unemployment figure of 5.6 per cent reflects that. “It reinforces why New Zealand can't afford to let up on the policies that boost employer confidence and support people into work.
National launches KiwiSaver calculator
National has launched a KiwiSaver calculator so that New Zealanders can see how much bigger their nest egg could be with National’s changes to the scheme. “A re-elected National Government would make KiwiSaver compulsory for all workers from 1 July 2028 and gradually lift combined default contribution rates to 12 per cent by 2032,” National’s Finance spokesperson Nicola Willis says.
Over 97,500 families benefiting from FamilyBoost
Over 97,500 New Zealand families have now received FamilyBoost payments to help with the cost of early childhood education, Finance Minister Nicola Willis says. "Raising young children comes with significant costs, and this Government is committed to backing working parents with practical support that makes a real difference,” Nicola Willis says. "Last year we expanded FamilyBoost because we wanted more families to benefit and to receive larger payments.
National to extend and improve paid parental leave
Working mums and dads will benefit from National’s plan to give parents more time with their babies and more choice over how they take paid parental leave. A re-elected National Government will gradually extend paid parental leave from 26 to 30 weeks by 2029, starting with an increase to 27 weeks in next year’s Budget and followed by further increases in the next two Budgets.
Fiscal discipline critical during global volatility
Today’s inflation figures show the impact of the global oil price shock, while reinforcing the Government’s prudent response to global volatility, Finance Minister Nicola Willis says. Stats NZ’s Consumers Price Index showed inflation was 4.1 per cent in the 12 months to the end of June. By far the biggest contributor was the increases to petrol and diesel, at 27.5 per cent and 71 per cent respectively.
99.5 per cent benefiting from KiwiSaver change
99.5 per cent of people contributing to KiwiSaver through their wages or salaries can look forward to greater security in retirement thanks to the increase in contribution rates, Finance Minister Nicola Willis says. “Almost three months after the default contribution rate for the scheme was lifted, only half a per cent of regular contributors have opted out of the increase.
GDP shows underlying economic strength
Today’s GDP figures confirm the economy had real momentum at the beginning of this year, Finance Minister Nicola Willis says. Stats NZ figures put GDP growth for the March 2026 quarter at 0.8 per cent. “New Zealand’s economy grew almost three times faster than Australia’s in the March 2026 quarter and around twice as fast as that of the United States.
Labour challenged to come clean on $18.2b bill
Labour challenged to come clean on $18.2b bill Labour needs to come clean about how it is going to close the $18.2 billion gap between its spending plans and revenue intentions, National Party finance spokesperson Nicola Willis says. “Labour leader Chris Hipkins and senior Labour MPs have repeatedly claimed they would come clean after the Budget on their plans to meet the cost of their growing list of election promises.
More trades academy places for young people
More young New Zealanders will have the opportunity to gain practical skills and industry experience while still at school, with the Government doubling the number of trades academy places available, Finance Minister Nicola Willis and Education Minister Erica Stanford say. “This Government backs the trades. We know that for many young people, vocational education provides a direct pathway into skilled careers and lifelong opportunities,” Nicola Willis says.
Surplus forecast reduces debt burden
The earlier return to surplus forecast in this year’s Budget shows the benefits of disciplined economic management and a government taking its responsibilities seriously, Finance Minister Nicola Willis says. “Treasury forecasts released today show the government’s books returning to surplus in 2028/29, a year earlier than previously expected. This means less borrowing, a lower debt track and a stronger fiscal position than previously forecast.
Government Super Fund contributions increase
Government contributions to the New Zealand Superannuation Fund are forecast to total $3.1 billion over the next four years, $2.2 billion more than expected at the Half Year Update in December, Finance Minister Nicola Willis says. “The Government’s Super Fund contributions are set by a legislated formula and rise from $562 million next financial year to just over $1 billion in 2029/30,” Nicola Willis says.
Budget delivers $7 billion capital investment boost
A $7 billion capital investment in Budget 2026 will strengthen the resilience of New Zealand’s infrastructure and support thousands of jobs, Finance Minister Nicola Willis and Infrastructure Minister Chris Bishop say. “Thanks to the Government’s careful management of the country’s finances, new funding is able to be invested in hospitals, schools, roads, rail, defence capability, social housing and local infrastructure,” Nicola Willis says.
Prudent approach to fuel crisis
The Budget supports the Government’s prudent response to the global fuel crisis, with temporary targeted support and provision for further action if needed. “Since the outset of the conflict, our approach has been to stay ahead of risks to New Zealand’s fuel supply, keep the economy moving, and support those most affected by higher fuel prices with temporary, targeted and timely measures,” Nicola Willis says.
Preparing before disaster strikes
Communities vulnerable to severe weather and natural hazards will benefit from major new investments in Budget 2026, Finance Minister Nicola Willis and Infrastructure and Transport Minister Chris Bishop says. “The Budget invests in stronger infrastructure, better hazard information, smarter emergency management systems, and improved financial preparedness,” Nicola Willis says. “We can’t stop severe weather events from happening, but we can be much better prepared for them.
Financial industry to bear the cost for regulation
Budget 2026 introduces a new prudential levy on banks, non‑bank deposit takers, insurers, and other financial market participants to help cover the costs of services provided by the Reserve Bank, Finance Minister Nicola Willis says. “This mirrors the approach taken by the Financial Markets Authority and the Commerce Commission which fund much of their activity through levies on financial market participants.
A responsible Budget to secure NZ’s future
Budget 2026 is a responsible Budget that boosts funding for essential services and invests in the infrastructure New Zealand needs for the future without breaking the bank, Finance Minister Nicola Willis says. “At a time when many New Zealand families and businesses are still under pressure from higher living costs and global uncertainty, this Budget takes careful steps to support New Zealanders now while strengthening the economy for the years ahead.
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