Introduction

The Public Service Association (PSA) has come out in strong support of Labour’s Future Fund proposal. The union says the plan will protect state-owned assets from privatization and ensure that profits generated by those assets stay in New Zealand for the benefit of all citizens.

PSA Statement

PSA National Secretary Fleur Fitzsimons said the policy represents the type of long-term thinking that New Zealand needs after what she described as a series of short-sighted decisions by the current government.

“The PSA has always opposed asset sales,” Fitzsimons said. “We led the public opposition to the privatization agenda of the 1980s, and history has proven that our position was right.”

She added that protecting state-owned assets from privatization means keeping them in public hands where they can serve the interests of New Zealanders rather than overseas investors.

Concerns Over Past Asset Sales

Fitzsimons said the PSA’s stance is rooted in past experience. “When governments sell public assets, the profits shift from taxpayers to private investors. New Zealanders end up paying higher prices and receiving poorer service.”

She pointed to the National Government’s previous sale of electricity generators as an example. “Latest inflation figures show power prices rising by over 11 percent in the last year, the highest increase since 1989,” she noted.

Call for Political Consensus

The PSA is urging all political parties to commit to a no-sale policy for public assets. “We call on every party to draw a clear line and promise no more asset sales,” Fitzsimons said.

According to the union, the Future Fund proposal aligns with its goal of maintaining public ownership and ensuring that the economic value created by essential assets benefits New Zealand communities rather than private shareholders.

About the PSA

The Public Service Association Te Pūkenga Here Tikanga Mahi is New Zealand’s largest trade union. It represents and supports more than 95,000 workers across central and local government, state-owned enterprises, health organizations, and community services.

References

  1. Public Service Association. Press Release: PSA Backs Plan To Stop State Asset Sales. 20 October 2025.
  2. Scoop Media. PSA backs Labour’s Future Fund announcement. 20 October 2025.
  3. Statistics New Zealand. Inflation and Electricity Price Data. October 2025.

Editorial Disclaimer

This report is based on an official statement released by the Public Service Association. Webfit News is sharing these statements to inform readers about policy developments and union positions. The opinions expressed belong to the PSA and its representatives, not to Webfit News. Readers should refer to the original PSA release for full context.