Labour’s Edmonds Advocates Fiscal Prudence at 2025 Conference

Labour’s finance spokeswoman, Barbara Edmonds, emphasized the need for fiscal responsibility during her speech at the party’s 2025 conference in Auckland. Speaking to delegates at the ASB Waterfront Theatre, she asserted that Labour “can’t say yes to everything,” a message underscored by recent calls to renationalise the country’s energy companies from the new head of the Council of Trade Unions (CTU), Sandra Grey.

Edmonds addressed the audience, acknowledging her background as a mother of eight and her experiences as a tax lawyer. She conveyed her belief that every dollar counts, especially when it comes to managing public funds. “When I was growing up, every cent mattered,” she said. “That’s the approach I will take as Minister of Finance.”

The finance spokeswoman outlined her vision for a balanced economy, stating, “Getting the economy growing and balancing the books means we can’t say yes to everything, and I make no apology for that. Responsibility must always come first.” She highlighted her commitment to delivering stability, even if immediate fixes are not feasible. “We won’t fix everything overnight, but as finance minister, I will deliver the stability we need to build the future our country deserves,” she added.

While Edmonds did not directly criticize former Finance Minister Grant Robertson, she pointed to lessons learned from the previous Labour government. She remarked on the tendency to overpromise, saying, “We’ve heard the lessons of last term: too much, too fast and not enough finished.” The public, she noted, often supported the intentions but did not see tangible changes in their lives. “The next Labour government will be different,” she assured delegates.

Edmonds refrained from introducing new commitments beyond the party’s existing policies, such as the future fund and a proposed capital gains tax. She characterized the National Party as having “lost credibility” due to what she described as “reckless cuts.”

Her address followed a speech by Sandra Grey, who urged Labour to fully renationalise New Zealand’s energy companies, a policy estimated to cost around $20 billion. Despite the CTU not being formally affiliated with the Labour Party, several of its constituent unions are aligned with Labour’s mission. Grey, who has been in her role for just four weeks, stressed the urgency of investing in energy infrastructure to address critical issues facing the nation. “We as a nation can invest in the infrastructure, so old people don’t have to live in damp cold houses,” she stated, emphasizing the need to make energy affordable for both individuals and industries.

Labour has yet to finalize its energy policy, although energy spokeswoman Megan Woods has indicated that lowering power prices will be a priority. The party opposed the partial privatisation of energy companies in the 2010s but took no action to buy back shares after gaining power in 2017.

As Labour gathers for what it claims is its largest annual conference in over a decade, the focus on fiscal responsibility and energy policy reflects the party’s intention to address public concerns while navigating complex economic challenges.