National leader Christopher Luxon has unveiled a new technology and visa policy focusing on allowing employees at tech companies to get the most from their share options and getting international entrepreneurs into the country.

The party will also create a minister of technology

Science Innovation and Technology spokeswoman Judith Collins said it was “common for tech start-ups to attract employees with an offer of equity in the company if it succeeds. However, the Startup Advisors Council has identified existing rules – where share options are treated as income when they are exercised and converted into shares, rather than when the shares are sold – as a major concern, so a National Government will look into that.”

A change would mean the tax treatment of share options.

Immigration spokeswoman Erica Stanford also announced a suite of visa changes, including introducing three different types of visas:

• International Graduates Visa – a three-year open work visa for highly educated people who have graduated with a Bachelor’s degree or higher within the last five years from one of the top 100 universities in the world. This visa will initially be capped at 500 successful applicants in the first year.
• Global Growth Tech Visa – a residence visa for people with highly specialised skills who have worked at a top global tech company earning at least NZ$400,000pa. This visa will initially be capped at 250 successful applicants in the first year.
• Digital Nomad Visa – a 12-month visa to attract skilled, highly-mobile people to come to New Zealand while working remotely for an overseas-based company, with the option to apply for a work or residence visa later if they choose to stay. This visa will initially be capped at 250 successful applicants in the first year.

National has faced questions about its tax plan, particularly the modelling that underpins its foreign buyers tax. These attacks entered a new league on Thursday when three economists published modelling showing a $2.1b revenue shortfall in the tax.

National claimed it would raise $2.9b from the tax.

Finance spokeswoman Nicola Willis promised to resign if she could not deliver tax reduction next term.

Speaking to TVNZ’s Breakfast this morning, Willis said she would resign if a National Government couldn’t deliver on the tax cuts it’s promising.

“I would resign because we are making a commitment to the New Zealand people and we intend to keep it,” she said when pushed about whether the foreign buyers’ tax would work.

Labour has been campaigning in Wellington today, with Hipkins hitting the trail in Lower Hutt.

He was at the Youth Employment Symposium in Lower Hutt where he spoke to sector.

After packing a couple of boxes, Hipkins spoke with association members and was given 6-month-old Alyssa Kanavatoa to hold.

National has been on the attack over spending on budget breakfasts by the Ministry of Pacific Peoples.

National said government responses to written parliamentary questions showed the ministry spent nearly $53,000 on the breakfast events.

It follows Public Service Commissioner Peter Hughes criticising the ministry last month for spending more than $40,000 on a farewell for its departing chief executive last October.

National’s public service spokesman Simeon Brown attacked Labour’s Ginny Andersen for defending the spending.

“Kiwis getting ready for work this morning would’ve choked on their cornflakes hearing Andersen say that this lavish spending was ‘pretty typical’.” Brown said

”If it’s ‘pretty typical’ for ministries to spend $52,000 on breakfasts promoting Labour Party political groups all over the country, Chris Hipkins must explain today how much has been spent since 2017 on doing this.”