If elected next year, the Labour Party would provide doctors and nurse practitioners with low-interest loans to establish new practices or invest in existing ones, Leader Chris Hipkins said during the party’s annual general meeting in central Auckland.
Hipkins said Labour would offer up to 50 loans annually, focusing on areas without general practitioners or practices with fully or partially closed books.
Doctors can apply for loans covering up to 90% of the cost to purchase a share in a practice, with a maximum limit of $500,000.
The loans would carry no interest for the first two years, followed by monthly repayments on the remaining balance at a 3% annual interest rate.
It would apply solely to owner-operated general practices, excluding corporate-owned clinics.
According to Hipkins, the loans would become available starting July 1, 2027, via the existing Small Business Cashflow Loan Scheme.
“This is a practical, targeted way to boost locally owned clinics across New Zealand and strengthen the ones we already have,” Hipkins said.
“More doctors in our communities means shorter waits for patients.”
“Nearly 650,000 New Zealanders can’t afford to see their doctor when they need to, and many others wait too long for an appointment.”
“This announcement builds on our plan for three free doctor’s visits, improvements to GP funding and free cervical screening – all aimed at making it easier for people to get care when they need it.”
“It’s expensive to start a new practice or buy into an existing one, so our low-interest loans will give doctors the kickstart they need to get established,” Hipkins added.