Labour has announced a $900 million investment aimed at supporting Māori businesses and strengthening the local economy. The plan includes restoring and expanding the Māori procurement policy, which will increase access to government contracts for Māori-owned companies. The policy change is part of Labour’s broader strategy to create employment opportunities and promote economic growth within Māori communities.
The initiative follows a commitment made during the party’s election campaign, where Labour pledged to prioritize Māori economic development. The policy will require government departments to allocate a minimum percentage of contracts to Māori businesses, with the goal of increasing participation in public sector projects. The government will also provide funding for business development programs and support services tailored to Māori entrepreneurs.
Māori economic empowerment has been a key focus for Labour, with previous government policies facing criticism for not delivering sufficient results. The new plan aims to address historical underrepresentation of Māori in business ownership and decision-making. The policy is expected to be implemented within the next fiscal year, with initial funding allocated through existing economic development grants.
