“We’ll redirect up to $50 million a year of the government’s contribution to the NZ Super Fund into Elevate, so more innovative businesses can expand, hire and pay good wages here at home.
“Government is about choices, and every commitment we’ve made is fully costed and paid for in our independently verified fiscal plan.”
In Budget 25, the Government put a one-off $100m into Elevate with $61m coming from the Super Fund and $39m from the government.
Speaking to reporters in Queenstown, Edmonds referenced the coalition Government’s funding as she pushed back on the suggestion the policy was corporate welfare.
“This is not about raiding the Super Fund, this is around spreading the divestment and investment into New Zealand by using Super Fund funds, it’s a small amount.”
Adam Pearse is the Deputy Political Editor and part of the NZ Herald’s Press Gallery team based at Parliament in Wellington. He has worked for NZME since 2018, reporting for the Northern Advocate in Whangārei and the Herald in Auckland.