Craig Renney Faces Off Against Nicola Willis in Election Bid

Economist and policy director Craig Renney is positioning himself as a significant contender in the upcoming election, aiming to secure a parliamentary seat for the Labour Party in the Wellington Bays constituency. Previously known as Rongotai, this area is currently represented by Julie Anne Genter from the Green Party. Renney, a familiar face in political discussions, has frequently challenged Finance Minister Nicola Willis and has emerged as a prominent figure within Labour’s policy-making circles.

Raised in Cramlington, England, Renney moved to New Zealand fourteen years ago. He has gained considerable recognition for his outspoken views, particularly in his newly published book, The Good Economy. In this work, he advocates for a series of bold economic reforms, including a windfall tax on electricity generators and a levy on large banks to fund a state-owned National Investment Bank. He also proposes measures such as taxing the “excess profits” of supermarkets and reviving the National Income Insurance Scheme, which was previously shelved by former Finance Minister Grant Robertson.

Renney’s platform contrasts sharply with Willis’s fiscal conservatism. While she aims to reduce core Crown public expenditure to 30% of GDP from the current 32.5%, Renney argues for an increase in government spending. He asserts that New Zealand has neglected vital investments in infrastructure, social housing, and research, pushing the economy toward low growth and low wages. His views have placed him at the center of political discourse, especially as he prepares to enter Parliament.

Background and Personal Insights

Renney’s upbringing in a coal-mining community significantly shapes his perspectives on economic intervention. His father worked in one of England’s last underground coal mines, and his childhood experiences during the miners’ strike of 1984 left a lasting impression. He recalls receiving gifts from the National Union of Mineworkers during a time of economic hardship, underscoring the importance of community and government support in difficult times.

Reflecting on the closure of the Ellington pit in 1992, Renney highlights the profound impact this had on his hometown. “There was a sense of real economic hardship and places being left without any plan or any sense of a future,” he notes. His experiences have motivated him to pursue policies that address similar issues in Wellington Bays, a region he believes should be thriving given its proximity to the sea and Wellington’s central business district.

Political Aspirations and Vision

As Renney prepares for his candidacy, he is clear about his ambitions. “The one thing that I want to do is be the MP for Wellington Bays. That’s it,” he states. He believes that the area should be one of the best places to live in New Zealand but is troubled by the exodus of young people and the deterioration of public infrastructure.

Renney’s role as the vice chairperson of Labour’s policy council has sparked speculation regarding his future position within the party, especially if Michael Wood, another union-favorite, returns to Parliament. While some have suggested Renney could be a candidate for the finance portfolio, he dismisses these claims, expressing support for the current finance spokesperson, Barbara Edmonds.

In addressing the criticisms directed at him by Willis, Renney defends his views on fiscal policy. He maintains that the previous Labour government’s record demonstrates a commitment to progressive policies, such as the Covid-19 response and initiatives like the Future of Work programme.

“There’s much work to be done,” Renney asserts, emphasizing the need for a robust and inclusive policy agenda. As the election approaches, the potential for a head-to-head debate between Renney and Willis on economic strategies is anticipated, though it may have to wait until after the votes are cast.

Renney’s central message is clear: New Zealand must prioritize investment in its future to avoid becoming a low-growth economy. As he embarks on this political journey, he aims to bring the lessons of his past into a new role as an advocate for change.