Waikato-Tainui’s Tuku Morgan says Labour’s proposed $200 million Future Fund is a much-needed boost for Māori and a step towards genuine partnership with the Crown, but critics say Labour’s policy lacks any real detail.
“E tino tautoko ana mātau ki te tahua pūtea a te rōpū Reipa. I tēnei wā nei, karekau he putea tautoko a te Kāwanatanga,” says Morgan, chairperson of Te Arataura, Waikato-Tainui’s executive board.
In Labour’s first policy announcement ahead of the 2026 general election, the $200 million New Zealand Future Fund would invest in local infrastructure, Māori businesses and regional economic development - aiming to create well-paid jobs and long-term national wealth.
Labour leader Chris Hipkins says Māori investment is central to the policy.
“We know there’s a lot of interest from iwi who want to invest in the country’s infrastructure and want to invest alongside government in those things. So, the Future Fund will certainly be able to invest alongside iwi.”
Labour’s finance spokesperson Barbara Edmonds says the initiative is also about keeping opportunities in Aotearoa - particularly for Māori youth.
According to the Ministry of Health (2025), 19% of Māori aged 15–24 were unemployed in 2024.
“Māori rangatahi are smart, and we know that they’ve got higher unemployment than the general public,” she adds.
Rangatahi Māori in that age bracket not in employment, education or training (NEET) also sat at 19.5%, with about 12% of them living in the Waikato region.
“We want to make sure for them, and for their children, for their mokopuna, that they have opportunities to stay here rather than join the 200 people per day who are leaving our country for other shores.”
‘He tīmatanga noa iho tēnei tahua pūtea’
While optimistic about the fund’s potential for iwi, Morgan says it must grow to meet their needs.
“Me whakarahi ake ki ngā piriona, kia rite ki te ACC pūtea, ki te pūtea o te Super, kei ngā 78 piriona tāra.”
He says funds like this will greatly benefit iwi-led projects, such as the continued development of the Ruakura Superhub, with Stage 1 being completed in 2022. The iwi recently announced that there would be a further 70 ha of logistics assets to be developed in the near term
“Kua riro mā mātau anake me ō mātau hoa hei kawe i ngā kaupapa nui, pērā i tō Ruakura i roto i a mātau,” he says.
“Ko te kauapapa [e] whakahaerehia ana [e] mātau ki roto o Ruakura, inā oti i a mātau, ka eke ki te 8,000 ngā tūranga mahi ka wātea ki a tātau.”
Despite Waikato-Tainui’s support for the fund, Morgan says the upcoming Māori economic summit - Ōhanga ki te Ao - will exclude government politicians. The summit was announced by Te Arikinui Kuini Nga wai hono i te po at her first coronation this year.
“Waiho tērā hui mō ngā iwi o te motu nei, me ā mātau hoa haere. Ko ngā 17 tahua pūtea o te ao e haere mai ana.”
“Ko te huarahi ki te tino rangatiratanga me te mana Māori motuhake, mā tātau anake, mā Māori mā anake e kawe i tērā kaupapa - kaua mā te kāwanatanga.”
Lack of detail
Meanwhile, Prime Minister Christopher Luxon has criticised Labour’s Future Fund, calling it an absolute bunch of drivel.
“Let’s just say commercially sensitive – they are two words that Chris Hipkins has discovered that actually cover up a lack of detail.”
Labour maintains the Future Fund is just the first step in a broader, long-term economic strategy to support New Zealanders and grow regional prosperity.
“New Zealand doesn’t lack talent. We lack backing,” Labour says.
“By investing in our people, our ideas and our future, we’ll turn aspiration into action – and make New Zealand a place where our kids want to stay, and build their lives.”
