The National Party will commit to three so-called Budget Responsibility Rules aimed at returning to surplus, cutting debt and keeping taxes low, if elected.Leader Christopher Luxon and finance spokesperson Nicola Willis made the announcement at Parliament on Sunday.The Budget Responsibility RulesPrioritising a return to surplus in 2028/29 and staying in surplus over time so the country's debt curve bends downGetting debt down below 40 per cent of GDP and keeping it there over timeKeeping taxes low by cutting Crown expenditure as a share of the economy down towards 30 percent of GDPWillis said the rules reflected a more "volatile world" where borrowing costs had risen and international rating agencies were watching New Zealand closely."As a small, commodity-exporting country a long way from anywhere, without a deep pool of domestic savings to fall back on, New Zealand carries more risk than bigger countries when the next earthquake, pandemic or global shock hits."That is why these rules are so important for any government. The only way to be ready for the next crisis is to get our books in order now, while conditions allow it," Willis said.Nicola Willis speaking to media.RNZ/Lauren CrimpBudget 2026 forecasted a return to a budget surplus in 2028/29 from a mix of an increased tax take, controls on government spending, capital projects and a reduction in borrowing and debt service costs.The announcement follows a rough week for Luxon, who began it apologising for comments about businesses in Rotorua.He's also been criticised for his inability to discipline coalition partner Winston Peters and his off-the-cuff call for a referendum on MMP which caught his caucus off guard.However he won some reprieve on Friday, with the latest Taxpayers' Union Curia poll putting National on 31 percent and predicting the coalition's return to power, along with a steep drop in support for the existing opposition parties.National released its full election candidate list on Saturday afternoon, largely preserving the existing hierarchy.More to come
National promises Budget Responsibility Rules if elected
The National Party will commit to three so-called Budget Responsibility Rules aimed at returning to surplus, cutting debt and keeping taxes low, if elected.







