Implementing the Government's priorities

During the year, MBIE led delivery of the Government’s Going For Growth agenda

During 2025/26, MBIE advanced key priorities within the Government's Going For Growth programme through reforms and investments aimed at lifting productivity, strengthening business confidence, growing exports and attracting investment. Together, these initiatives supported a more competitive, innovative and productive economy and helped create opportunities for New Zealanders.

MBIE led the cross-government coordination of the Government's Going For Growth programme, serving as the central secretariat to support delivery of both near-term economic growth initiatives and longer-term productivity outcomes. This included coordinating work across agencies to develop and maintain the programme's five-pillar action plans, monitoring progress and supporting Ministerial governance and decision-making forums.

MBIE's contribution spanned all 5 pillars of the Government's Going For Growth programme:

• developing talent
• competitive business settings
• global trade and investment
• innovation, technology and science
• infrastructure for growth.

Through immigration and workforce initiatives, regulatory and competition reforms, investment and export growth measures, science and technology system reform and infrastructure investment, MBIE supported the conditions needed for businesses to grow, innovate, invest and create higher-value jobs for New Zealanders.

The following case studies highlight some of MBIE's key achievements in delivering the Government's Going For Growth priorities during 2025/26. Together, they demonstrate how MBIE is helping to lift productivity, strengthen business confidence, attract investment, improve competitiveness and support sustainable economic growth. Further information on these initiatives and MBIE's performance is provided throughout the relevant sections of this annual report.

Developing talent - Developing international education growth

During 2025/26, international education was a key focus under the developing talent pillar of the Government’s Going For Growth programme. Delivery of the International Education Going For Growth Plan involves several government agencies, with much of the wider work led by education agencies. MBIE contributed through changes to immigration settings intended to support international students and graduates. Examples include increasing eligible work hours for international students from 20 to 25 hours per week and broadening eligibility settings. Additionally, the Government has agreed to introduce a new six-month graduate visa and expanded pathways for international graduates to remain and work in New Zealand. Further information on these changes is provided under Outcome 2.

Competitive business settings - Open banking goes live for customers

On 1 December 2025, New Zealand launched regulated open banking under the Consumer Data Right, allowing customers to securely share their financial data with accredited providers. This marked an important step in modernising the financial system and moving from earlier, unregulated forms of data sharing to a consistent national framework.

MBIE led the design and implementation of the framework. This included developing regulations under the Customer and Product Data Act 2025, establishing accreditation requirements for third-party providers and overseeing the introduction of secure technical standards for sharing data. ANZ, ASB, BNZ and Westpac introduced the required open banking capabilities by 1 December 2025. Kiwibank was required to implement payment services by June 2026 and broader capability by December 2026. It began introducing services ahead of these deadlines, with rollout to customers starting in May 2026.

The framework requires customers to give clear consent before their data can be shared and restricts access to accredited providers. By June 2026, 11 accredited requestors were participating in the framework. Common rules, accreditation and regulated standards give banks, fintech firms and other providers a consistent basis for developing new services while protecting customer data and supporting confidence in the system. The growth of services enabled through open banking is already evident. In June alone, more than 350,000 open banking payments were made, totalling $114 million, while 14 million customer data-sharing requests were actioned.

Open banking is expected to support services such as faster loan applications, financial management tools and lower-cost payment options. It may also reduce barriers for new providers and support greater competition, choice and innovation in financial services. The launch reflects collaboration between government and industry to introduce a secure and practical approach to data sharing. As the first stage of the wider Consumer Data Right programme, open banking provides a foundation for further data-driven services that can support consumers, business innovation and a more digitally enabled economy.

Global trade and investment - NZeTA travel changes supporting tourism recovery

During 2025/26, MBIE trialled targeted changes to the New Zealand Electronic Travel Authority (NZeTA) as outlined on page 16. The changes expanded eligibility for Chinese and Pacific visitors coming from Australia with an eligible Australian visa to visit New Zealand for up to 3 months with an NZeTA, while maintaining robust security screening and border integrity.

Survey results from the first three months of the 12-month trial showed that 85% of visitors under this trial reported that this option influenced their decision to visit New Zealand. Early results from these trial settings also showed strong uptake, with more than 101,000 requests received and approximately 85% of issued NZeTAs being used for travel to New Zealand.

Changes like this trial contribute to New Zealand's broader tourism recovery by reducing barriers to travel and improving the visitor experience. By making it easier for visitors to plan and undertake travel to New Zealand, the trial supported tourism activity, international connectivity and economic growth across regional communities.

Innovation, technology and science - Regional Business Partner Network AI Advisory Pilot supports SME productivity

During 2025/26, MBIE launched the Regional Business Partner Network (RBPN) AI Advisory Pilot to help small and medium-sized enterprises (SMEs) identify practical opportunities to use artificial intelligence (AI) to improve productivity and business performance. Introduced in January 2026, the pilot provides eligible businesses with co-funded access to specialist advice, tailored implementation roadmaps and support to adopt AI solutions.

Strong demand led to the pilot being expanded to support up to 150 businesses. Early results indicate that participating businesses are identifying opportunities to automate routine administrative tasks, improve reporting and customer communications, enhance internal knowledge management and streamline business processes. Many participants have identified potential productivity gains equivalent to 10–15 staff hours per week.

The pilot has also highlighted the importance of data quality, workforce capability, governance and system integration in achieving successful AI adoption. By helping businesses adopt emerging technologies with confidence, the initiative is supporting productivity improvements, strengthening competitiveness and positioning New Zealand businesses for growth in an increasingly digital economy.

MBIE continued to support the Government’s fiscal priorities through reprioritisation, savings and targeted investment

For the year ended 30 June 2026, MBIE's combined departmental and non-departmental baseline as at Budget 2025 was $6,664 million. The most significant fiscal change was reprioritisation of $90 million of existing funding in 2025/26 from the Science, Innovation and Technology portfolio and Economic Growth portfolio to support the implementation of initiatives to reform the science, innovation and technology system. Other savings included reductions to Crown funding for the Energy Efficiency and Conservation Authority, reduced baseline funding for the International Growth Fund and scaling of the New Zealand Claims Resolution Service.

These savings were offset by new and reprioritised investments in priority areas. Budget 2025 included reprioritisation of $20 million over 2 years to establish future-focused public research organisations, $6 million over 5 years for the Prime Minister’s Science, Innovation and Technology Advisory Council, $38 million over 3 years for the wind-down and transfer of Callaghan Innovation functions and $21 million to Invest New Zealand for establishment and improving inward investment attraction. Other priority investments included $35 million for support for the international screen sector as well as investments in energy security and tourism infrastructure and system capability.

MBIE’s 2025/26 contractor and consultant actual spend was $39 million. This represents 5.7% of total workforce expenditure and an increase of $9 million from the previous year*. MBIE’s use of contractors and consultants increased to meet the priorities set by government in a constrained FTE environment. This provided MBIE with flexibility and access to skills not immediately available. This included delivery of projects and programmes in the digital and data space, alongside policy delivery.

* Note: Dollar values are presented in millions and rounded to the nearest whole number.

MBIE supported significant budget initiatives through targeted investment and reprioritisation

During 2025/26, MBIE supported major spending decisions and significant budget initiatives that had an operating, capital, revenue or savings impact for Vote Business, Science and Innovation, Vote Building and Construction and Vote Labour Market. These initiatives show how MBIE reprioritised funding, returned or reduced funding where appropriate and directed investment towards government priorities across its portfolios.

The largest 2025/26 activity was in Vote Business, Science and Innovation. MBIE supported the Government’s science, innovation and technology reforms through reprioritised funding for the disestablishment of Callaghan Innovation and transition of its products and services, the establishment of 3 future-focused Public Research Organisations, the establishment of the Gene Technology Regulator, the Prime Minister’s Science, Innovation and Technology Advisory Council and operational and management costs for the Gracefield Innovation Quarter and investments in science, innovation and technology policy advice capability. These decisions were supported by reprioritisation of $90 million of operating funding from existing Science, Innovation and Technology and Economic Growth funding in 2025/26.

MBIE also supported economic growth priorities through targeted Budget decisions. These included $21 million to establish Invest New Zealand and improve inward investment attraction as part of a broader 4-year investment, $35 million of increased baseline funding for the New Zealand Screen Production Rebate — International as part of a broader 5-year investment and $200 million in commercial co investment funding over 4 years to support increased or accelerated gas supply to market. Other decisions strengthened energy policy capability, funded tourism pre-commitments through the International Visitor Conservation and Tourism Levy and replaced Crown revenue funding with third-party revenue for recovering the costs of administering company liquidations.

Savings and reprioritisation also contributed to MBIE’s fiscal management in 2025/26. These included a reduction of $14 million per annum in Crown funding for the Energy Efficiency and Conservation Authority (EECA), with a portion of the funding reprioritised to support energy policy resources within the Ministry. For EECA, reduction in Crown funding is partially offset by an increase in levy funding, which now represents 43.7% of EECA’s total funding. Further savings included a one-off reduction of $2 million in baseline funding for the International Growth Fund in 2025/26 and Crown funding for the New Zealand Claims Resolution Service was reduced by $2 million in 2025/26 and $4 million in 2026/27, before ceasing in out years.

Budget 2026 decisions also affected 2025/26 funding in Vote Business, Science and Innovation. These included an $80 million investment ($150 million across 2025/26 and 2026/27) to support additional fuel supply in response to the fuel crisis, a reprioritisation of $45 million ($77 million over 5 years) to support other energy initiatives, including the Gas Transition Loan Guarantee Scheme and Solar on Schools programme and a reduction of $19 million from the return of tagged contingency funding for COVID-19 infrastructure cost overruns and reprioritisation initiatives.

MBIE received funding through 4 major spending decisions to support long-term economic growth, regional resilience, international competitiveness and sustainable management of New Zealand’s natural and tourism assets.

These investments include the Regional Infrastructure Fund, the New Zealand Screen Production Rebate – International, Invest New Zealand establishment and International Visitor Conservation and Tourism Levy funding uplifts, each of which contributes to achieving the Government’s economic and regional development objectives.

In 2024, Cabinet introduced reporting requirements for selected major Budget spending decisions to improve transparency and public accountability for significant government investments. The most recent reports published by MBIE remain available:

Major spending decisions reporting

Regional Infrastructure Fund (Budget 2024)

Forecast and actual spend by year over relevant period:

The Regional Infrastructure Fund continued to invest in infrastructure that supports regional productivity, resilience and Māori economic development. By June 2026, 145 projects had been approved, 110 contracted and 12 completed, with total approved funding of $849.1 million. Economic impact analysis estimates more than 3,700 FTEs (including direct, indirect and induced FTEs) have been sustained by Regional Infrastructure Fund investments and co-investments across the country, while delivering projects that improve flood resilience, energy security, enable growth and strengthen regional economies.

New Zealand Screen Production Rebate – International (Budget 2025)

Forecast and actual spend by year over relevant period:

*Funding added to existing funding
**Portion of actual allocated to new funding

The New Zealand Screen Production Rebate – International maintains New Zealand’s competitiveness as a destination for international film and television productions. The initiative supports jobs, skills development and business activity across the screen sector while contributing to wider economic benefits through international investment, innovation, tourism and the promotion of New Zealand as a world-class production destination.

During the reporting period, 30 productions were approved, generating approximately $1.162 billion in qualifying New Zealand production expenditure. The initiative continued to support employment and skills development, with New Zealanders making up 91% of crew and 72% of cast on supported productions.

Invest NZ Establishment (Budget 2025)

Forecast and actual spend by year over relevant period:

Invest New Zealand was established as an autonomous Crown entity to promote increased overseas investment into New Zealand.

Invest New Zealand achieved all 3 short-term time-bound deliverables. It recruited a permanent Chief Executive by quarter 4 2025; developed and implemented an appropriate structure and operating model, including a performance framework that will enable Invest New Zealand to begin demonstrating its impact, by quarter 2 2026; and, by quarter 2 2026, built a collective view of the investment pipeline with partners, such as National Infrastructure Funding and Financing, while progressing opportunities for regulatory enablement where appropriate. 3 further deliverables were planned as ongoing and remained ongoing:

1. Supporting the expansion of the Active Investor Plus visa scheme and Invest New Zealand’s focus on large and mid-size deals;
2. Working with MBIE, other government agencies and the private sector to understand the specific sectors or industries that could be prioritised; and
3. Developing Invest New Zealand as an organisation to ensure people with appropriate skills and capabilities are in place to deliver results.

International Visitor Conservation and Tourism Levy – Forecast and actual spend

Forecast and actual spend by year over relevant period:

Actual and forecast data is indicative. A full reconciliation of project funding and movements across financial years will be published in the IVL Annual Performance Report 2025/26 by 31 December 2026.

Funding from the International Visitor Conservation and Tourism Levy (IVL) supported a wide range of conservation and tourism initiatives. Investments progressed across biodiversity protection, predator control, visitor infrastructure, tourism marketing, regional events, cycle trails and visitor information services. These initiatives are intended to enhance visitor experiences, support sustainable tourism growth, protect New Zealand’s natural environment and increase the economic contribution of international visitors. Throughout 2025/26, IVL funding was supporting 59 projects across New Zealand, including 36 conservation projects and 23 tourism projects.

• Nineteen projects were completed in the financial year.
• Two projects scheduled for completion, the i-SITE Network Upgrades and the West Coast Wilderness Cycle Trail Totara River Bridge Replacement, experienced delays due to challenges in obtaining the necessary resource consents, securing co-funding or a builder.
• The remaining 38 projects are progressing as planned.

While many projects remain in delivery, the breadth of investment demonstrates continued progress towards strengthening New Zealand's tourism and conservation system.

Together, these investments are helping to build a more productive, resilient and internationally connected economy. Through ongoing monitoring, evaluation and public reporting, MBIE remains committed to ensuring these initiatives achieve their intended outcomes and provide enduring benefits for New Zealand communities, businesses and regions.

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