Edmonds Advocates Fiscal Responsibility at Labour Conference

During the Labour Party’s 2025 conference held at the ASB Waterfront Theatre in Auckland, finance spokeswoman Barbara Edmonds emphasized the importance of fiscal responsibility. In her address, she asserted that the party “can’t say yes to everything,” highlighting a commitment to prudent financial management.

Edmonds spoke shortly after Sandra Grey, the newly appointed President of the Council of Trade Unions (CTU), urged Labour to fully renationalise the country’s energy companies, a policy that could incur costs of approximately $20 billion. The conference marks Labour’s largest annual gathering in over a decade, showcasing significant party engagement and discussion.

Balancing Ambition with Realism

Reflecting on her background as a mother of eight, Edmonds noted the importance of making every dollar count, a principle she intends to apply to public finances if elected as Minister of Finance. “When I was growing up, every cent mattered. While we raised our young family on one income, every cent mattered. When I was a tax lawyer working with small businesses, every cent mattered. That’s the approach I will take as Minister of Finance,” she stated.

Edmonds articulated her vision for economic growth and fiscal stability, declaring, “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 acknowledged the challenges ahead, maintaining that while progress will take time, her leadership would prioritize stability for New Zealand’s future.

While Edmonds refrained from directly criticizing former Finance Minister Grant Robertson, she did indicate that the previous Labour government faced issues with overpromising and underdelivering. “We’ve heard the lessons of last term: too much, too fast and not enough finished,” she remarked. “People heard the promises and often supported the intent, but didn’t always see the change in their lives. The next Labour government will be different.”

Energy Policy Under Review

In her speech, Edmonds did not introduce any new initiatives outside of Labour’s existing plans for a future fund and capital gains tax. She criticized the opposition National Party for what she described as “reckless cuts,” which have resulted in a loss of credibility.

Grey’s call for energy renationalisation adds urgency to Labour’s discussions, as the party has yet to finalize its energy policy. Megan Woods, Labour’s energy spokeswoman, has indicated that the focus will need to be on reducing power prices. “On the table from us is the buying back of the energy system, so we as a nation can invest in the infrastructure,” Grey said. She further emphasized the need for affordable energy to prevent industries from relocating and losing jobs.

Labour’s previous opposition to the partial privatisation of energy companies in the 2010s has not translated into action since the party came to power in 2017, as they did not pursue the repurchase of shares. This ongoing dialogue on energy policy reflects the broader challenges the party faces as it prepares for the 2025 elections, balancing ambitious goals with the necessity for fiscal accountability.

As Labour continues its conference, the discussions led by Edmonds and Grey signal a critical moment for the party as it navigates its platform and voter expectations ahead of the upcoming election.