Labour launches 2026 campaign on cost of living and student loans
Labour leader Chris Hipkins launched Labour's election campaign in South Auckland on 27 September, putting the cost of living at the centre.
Hipkins told the launch that the cost of living would be Labour's election focus. He said voters faced a choice between a prime minister who would fight to get costs down and a prime minister whose response to rising prices was 'cry me a river' RNZ.
He returned to that remark repeatedly. "Is there anyone Christopher Luxon hasn't talked down to?" Hipkins asked. He said Luxon's remark made him angry. "It made me so angry… it still does." He added: "People aren't asking the prime minister to feel sorry for them. They're asking him to do his bloody job."
The language was blunt throughout. Hipkins declared that "neo-liberal, trickledown economics does not work" — the idea that cutting taxes and costs for businesses and high earners will flow through to everyone else. Responding to National Party claims about Labour, he said: "It's bullshit."
The main new commitment at the launch was student loans. Labour promised to write off 10 percent of eligible student loan balances. The write-off would cover current and future graduates who are New Zealand-based for tax purposes, did not benefit from the fees-free scheme, and still have a loan to repay. Loans with $2000 or less remaining would be written off entirely.
The policy to forgive 10 percent of student loan debt is estimated to cost $583 million over the next four years, according to NZ Herald reporting on the launch.
Hipkins also discussed Labour policies on supermarkets, public transport fare caps (a fixed upper limit on ticket prices) and free GP visits. Labour has previously claimed its public transport policy would save people an average of around $25 a week, or more than $1,200 a year, with Auckland commuters saving $30 a week and Wellington commuters saving $25 a week 1News.
National also launched its 2026 election campaign this weekend RNZ.
The broader context here is familiarity. Labour campaigned in 2023 on cost of living as well. That campaign was fought under the slogan 'In It For You', which Hipkins launched as a positive, forward-looking campaign focused on cutting inflation and bringing down the cost of living. In 2023, Hipkins kicked off Labour's campaign promising free dental care for everyone under 30.
For people who work in campaigns, the targeting will be the point to watch. The loan criteria isolate a specific cohort, graduates who missed fees-free but carry balances while resident for tax purposes, with a full clear-out at the bottom end under $2000. It is retail, costed, and aimed at younger voters Labour needs to turn out. The rhetoric around it is a sharper contrast strategy than 2023, personalised around Luxon and framed around who fights on prices for groceries, fares and primary care.
