Hipkins Pledges 10% Student Debt Cut as New Zealand Election Campaigns Launch
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New Zealand's Labour and National parties formally launched their campaigns in Auckland on Sunday, six weeks before the November 7 general election. Labour leader Chris Hipkins pledged to cut 10% of eligible student loan debt from April 1, 2027, wiping balances of NZ$2,000 or less entirely, at a cost of NZ$583.4 million over four years. "If you have a student loan and stay in New Zealand, under Labour you will owe less," he said. Prime Minister Christopher Luxon unveiled National's 10-point pledge card, including no new taxes and returning the books to surplus, and told supporters, "You can't afford Chris Hipkins."